Tel :
Tel :
India's ACME Group and Vietnam's Stavian Industrial Metal Company have reached binding terms on a 10-year agreement for the supply of 800,000 tons of green steel raw materials annually. The agreement covers green hot briquetted iron (HBI) and direct reduced iron (DRI) produced at ACME's new facility in the UAE, utilizing green hydrogen and renewable energy in its production process. 23QG085 GO Electrical steel, This contract marks one of the largest green HBI/DRI supply agreements globally and will strongly support ACME's Phase 1 project, which has an annual production capacity of 1.2 million tons.
ACME Group Chairman Manoj Kumar Upadhyay stated that this collaboration is a significant milestone for ACME in incorporating green steel into its business portfolio and pursuing strategic expansion. He further emphasized that this green HBI and DRI project demonstrates ACME's unwavering commitment as a leader in clean technology solutions in India. 23QG085 GO Electrical steel, The project will utilize green hydrogen as the primary reducing agent, making it one of the lowest carbon-intensive green steel projects under development globally.
Vietnamese company Stavian Industrial Metal has secured exclusive distribution rights for this hydrogen-based steel raw material in Southeast Asia, leveraging its logistics network spanning 100 countries, 40 logistics centers, 30 global offices, and over 20,000 partners. 23QG085 GO Electrical steel, David Nguyen Minh Tu, Chairman of Stavian Industrial Metal, stated that the collaboration is not only a commercial agreement but also a strong testament to their shared commitment to achieving net-zero emissions. He also cited Vietnam's 2050 carbon neutrality target and India's 2070 commitment to highlight the strategic significance of this partnership in the context of addressing climate change.
