Kalyani Group to Manufacture 250,000 Tons Green Steel in 2023-24

The Kalyani Group aims to manufacture 250,000 tonnes of 'green steel' from its electric arc furnace plant in Pune operated by Saarloha Advanced Materials. Green steel is a variety manufactured without the use of fossil fuels. It is produced by using low-carbon energy sources such as hydrogen, coal gasification, or electricity rather than coal-fired plants.

The plant where green steel is being produced has the capacity to manufacture 250,000 tonnes of steel, but only 20 percent of its capacity will be used to produce green steel in the first year. Saarloha Advanced Materials is a Kalyani group company that launched green steel under the brand Kalyani FeRRESTA on December 20. Bharat Forge is looking at ways to produce green steel by using green hydrogen at its manufacturing plants.

According to Bharat Forge's annual report for 2022, Saarloha Advanced Materials and Bharat Forge share the same promoter group. Bharat Forge had loaned around Rs 1,350 mn to Saarloha Advanced Materials as of March 31, 2022.