Vedanta-Iron and Steel signs MoU with IIT-B for R&D to develop technology for 'Green Steel' production

  • IANS
  • Stock Market News
Vedanta-Iron and Steel signs MoU with IIT-B for R&D to develop technology for 'Green Steel' production
Credit: © Reuters.

Goa/New Delhi, Aug 12 (IANS) Vedanta Ltd (NS: VDAN ) Iron and Steel Business has recently partnered with IIT Bombay (IIT-B) on an R&D project to develop cost-effective technology for producing Green Steel using hydrogen targeting significant carbon footprint reduction in Iron and Steel space.

Further Vedanta-Iron and Steel and IIT–B will collaborate on exchange of knowledge and technology for process innovation and excellence.

The first project kick-off meeting between Vedanta-Iron and Steel leadership team and IIT-B senior executives was held through virtual platform which was chaired by Sujal Shah, CEO, Sesa Goa Iron Ore Business, Vedanta (NS: VDAN ) Limited, and Prof. Arindam Sarkar, IIT-B along with the project team.

This engagement with IIT- B, is a significant step in line with Vedanta's larger vision of achieving carbon neutral operations by 2050 and country's larger vision of producing Green Hydrogen and aims to create benchmark transformation in steel making process.

Sauvick Mazumdar, CEO, Iron and Steel Sector, Vedanta Limited, said: "At Vedanta, we are fully committed towards our ESG goal of achieving 'Carbon Neutrality' by 2050 or before, and this engagement with IIT-B is a massive step forward in our endeavour to adopt 'Green Technologies' to significantly reduce the carbon footprints. I congratulate my Iron and Steel Business team and IIT-B for this fruitful association which will surely lay foundation for yet another landmark transformation for metal & mining industry."

Milind D. Atrey, Dean R&D, IIT-B expressed his excitement for this strategic alliance with Vedanta-Iron & Steel Business.

He said: "I really commend Vedanta- Iron & steel Business for this proactive step towards R&D for Green Steel making which will prove to be a key landmark in creating greener future. We at IIT-B are extremely happy to be associated with this unique endeavour."

Vedanta's Iron and Steel Business has implemented several high impact initiatives towards adoption of most sustainable business practices such as systematic reclamation of one of the largest open cast iron ore mine in Goa, 60 MW clean power generation through waste heat recovery power plants, state-of-the-art Environment management practices and much more over the decades

--IANS

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