Gensol, Matrix to develop India’s first green steel production facility
Author: PPD Team Date: 22/10/2024
Gensol Engineering has partnered with Matrix Gas & Renewables to establish India’s first green steel production facility using 100% green hydrogen.
The project, with a total capital expenditure of Rs 3.21 billion, will receive 50% capex incentives from the Government of India under the National Green Hydrogen Mission.
Sanctioned as one of three pilot projects by MECON, in coordination with the Ministry of Steel (MoS) and the Ministry of New and Renewable Energy (MNRE), the facility will use direct reduced iron (DRI) vertical shaft technology to convert iron ore into sponge iron, replacing coal and natural gas, thus eliminating CO2 emissions.
The process is designed for Indian-grade ore, supporting Matrix’s vision to establish green steel plants for medium-to-small-scale producers in Chhattisgarh, Odisha, and other regions across India.