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One of the largest steel producers in India plans to reduce CO2 emissions by 42% by 2030

This portfolio allows customers to purchase steel with verified emission reduction certificates

Buyers seek to quickly create an integrated system for the production and sale of these products in the country

However, the company reported a decline in profit for the period amid lower prices and weak demand

Production in India grew by 7% year-on-year

The initial investment in the project will amount to 200 billion rupiah

The capacity of the plant is planned at the level of 5 million tons of steel per year

The amount of the deal is approximately €400 million

The move is in line with the Indian steelmaker's efforts to increase coking coal resources

The company aims to become carbon neutral by 2050 and reduce CO2 emissions by 42% by 2030

The company plans to use new technologies and state-of-the-art equipment

The unit has an annual production capacity of 5 million tons