Slew of incentives in works for steel cos (msn.com)
India is considering a slew of incentives such as concessional finance and long-term loans for steel makers as it prepares for green transition in steel production to tackle the carbon taxation challenges, including Europe's Carbon Border Adjustment Mechanism (CBAM).
The ministry of steel had in 2023 set up 13 task forces with representation from industry, academia, think-tanks, science and technology bodies, different ministries and other stakeholders to discuss, deliberate and recommend measures needed for decarbonization of the steel sector."
It is very encouraging to see a country like India aligning its policies and strategies to take advantage of this economic opportunity. Green steel could address their biggest issue at the moment = Air Quality. Albeit not a silver bullet, it will still be something they will look into for sure.
Dhaka’s air quality 7th worst in the world this morning (unb.com.bd)
IOn a separate note, MGT's annual report is HIGHLY encouraging with interested parties in Arab and Japan. Can't wait for their next update!
Understanding the demand for Green Steel, page-534
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