In a major step toward industrial decarbonization, ACME Group has announced a massive ₹5,000 crore green steel investment, marking its entry into sustainable steel production. The company plans to set up a 1.2 million tonnes per annum (MTPA) Green Hot Briquetted Iron and Green Direct Reduced Iron (HBI/DRI) facility in its first phase — a move that underscores India’s growing commitment to clean manufacturing.
A Vision for Low-Carbon Steel Production
According to company officials, ACME’s upcoming greenfield facility will produce some of the lowest carbon-emission HBI and DRI products in the world. This development reflects ACME Group’s focus on integrating clean technology solutions into India’s industrial landscape and reducing dependency on fossil-fuel-based steel production.
Manoj Kumar Upadhyay, Chairman of ACME Group, said,
“Our greenfield facility will produce some of the lowest carbon emission green HBI and DRI products, underscoring our commitment as a leader of clean technology solutions in India.”
Strategic Collaboration with Stavian Industrial Metal
ACME Group has executed a binding term sheet with Stavian Industrial Metal, a Vietnamese corporation specializing in the processing and trading of industrial metals. The agreement covers a long-term sale and purchase of 0.8 MTPA of green HBI and DRI under a 10-year take-or-pay arrangement. This collaboration strengthens ACME’s international footprint while positioning it as a key player in Asia’s green steel ecosystem.
Stavian’s chairman, David Nguyen Minh Tu, highlighted the partnership’s long-term sustainability impact, saying:
“This partnership is not merely a commercial agreement but a shared commitment to achieving Net Zero — by 2050 for Vietnam and 2070 for India.”
Leveraging Green Hydrogen for Sustainable Steel
The new facility will rely on green hydrogen supplied from ACME Group’s ongoing projects in Odisha and Oman. By combining renewable power with hydrogen-based reduction processes, the company aims to minimize carbon emissions during steel production.
Mr. Upadhyay explained,
“We see this as a natural progression of our business to extend clean energy solutions in helping the transition of grey steel into green steel.”
The proposed Green HBI/DRI facility will be set up at one of ACME’s existing sites, ensuring efficient access to renewable power sources. Once regulatory approvals are obtained, construction will commence immediately.
A Strategic Step in ACME’s Clean Energy Expansion
This initiative represents more than a single project—it signals ACME’s strategic expansion into the clean industrial sector, bridging the gap between renewable energy generation and sustainable manufacturing. By applying its expertise in green hydrogen, the company is creating a vertically integrated value chain that supports India’s broader decarbonization goals.
“The collaboration marks a significant milestone in ACME’s integration of green steel into our portfolio as part of our strategic business expansion,” said Mr. Upadhyay.
Global Context: The Rise of Green Steel
The global green steel market is witnessing rapid transformation, driven by strong climate commitments and stricter emission norms. Governments and corporations worldwide are investing heavily in hydrogen-based technologies to replace coal-fired blast furnaces, significantly reducing carbon footprints.
Major economies — including Europe, the United States, and China — are already advancing in this space. Hydrogen-based direct reduction methods are becoming the cornerstone of future steelmaking, offering both environmental and economic advantages.
For India, where steel remains a backbone of economic growth, projects like ACME’s are essential for balancing industrial expansion with sustainability. The initiative aligns with India’s national goals of achieving Net Zero emissions by 2070.
Partnership Synergy and Long-Term Impact
The long-term partnership between ACME and Stavian Industrial Metal combines India’s renewable energy leadership with Vietnam’s global industrial reach. With Stavian’s network of over 20,000 customers across 100 countries, this collaboration could accelerate the adoption of green steel globally.
Mr. Nguyen emphasized the shared vision, saying:
“With a solid foundation, strong financial capacity, and global ecosystem, we are committed to working alongside partners like ACME to build a more sustainable and greener steel industry.”
Economic and Environmental Benefits
The upcoming facility will generate significant employment opportunities while reducing industrial carbon intensity. The project will also strengthen India’s position in the global green materials supply chain, supporting sectors like automotive, construction, and consumer goods, where low-carbon steel is increasingly in demand.
Industry analysts believe ACME’s project will set a precedent for other energy companies to diversify into industrial sustainability ventures, using green hydrogen as a transformative catalyst.
Regulatory Path and Future Roadmap
ACME has begun filing the necessary applications with authorities for regulatory approvals. Upon clearance, construction of the Green HBI/DRI facility will begin, adding momentum to India’s green industrial transition.
The company’s earlier experience in renewable energy, coupled with its ongoing hydrogen facilities in Odisha and Oman, provides it with the technological and operational advantage needed to succeed in this emerging domain.
A New Era for India’s Steel Industry
The ACME green steel investment is not just about building a plant—it’s about redefining how steel is made in the world’s fastest-growing economy. It represents a fusion of innovation, sustainability, and economic growth — a model that can guide India’s industrial transformation over the coming decades.
As the global demand for low-carbon materials grows, ACME’s initiative places India firmly on the map of green industrial leadership. The project stands as a testament to how visionary energy companies can lead the transition from fossil-heavy manufacturing to a clean, hydrogen-powered future.