The Centre has set the target of achieving 500 million tonnes of steel production by 2034. How does the firm plan to enhance production and contribute to jobs in the steel industry?
Magna Steel aims to align with India's target by expanding its manufacturing capabilities and increasing production capacity. We are investing in advanced machinery and technologies that ensure efficient and sustainable production. Our focus on Eco-Steel TMT Bars highlights our commitment to reducing environmental impact while meeting market demand. With this expansion, we will create new job opportunities, focusing on skill development programmes to prepare the workforce for advanced manufacturing roles, ensuring that as Magna grows, it meets production goals and contributes to economic growth of regions where we operate.

Please tell us about the use of Green Hydrogen to replace coal.
Green Hydrogen holds great promise as a cleaner alternative to coal in steel production. We recognise the potential of Green Hydrogen to drastically reduce carbon emissions, aligning with our vision of sustainable steel manufacturing. Though it faces challenges like high productioncosts and limited infrastructure, the shift to hydrogen-based production could revolutionise the industry. We see this as a longterm goal and are exploring partnerships to integrate it into our processes, aiming for a greener future in steel production.

What prevents the large-scale adoption of Green Steel?
The adoption of Green Steel faces significant hurdles, primarily due to high production costs and insufficient infrastructure. Green Hydrogen production, for instance, is more expensive compared to traditional methods, which makes it challenging for steelmakers to offer competitively priced Green Steel. Moreover, the market has been influenced by the narrative pushed by major players, leading many to believe that virgin steel is inherently stronger than recycled alternatives. This perception is misleading; in reality, Eco-Steel, like our TMT bars made from repurposed steel, can achieve comparable, if not superior, strength and durability. Educating stakeholders about the benefits of recycled steel is crucial to overcome these misconceptions. As the green supply chain develops and awareness grows, our firm will lead the transition toward sustainable steel, proving that recycled materials can be just as robust as virgin steel.

Investments in digital technologies across the steel value chain are expected to grow up to $2.7 billion by 2030 as per a FICCI-Deloitte Report. What technologies does the company incorporate in its processes?
The company integrates advanced manufacturing processes like temperature-controlled rolling mills and precision cooling technologies to enhance strength and durability of our TMT bars. Our investment in cutting-edge technology positions us as a leader in efficiency and product excellence.

Kindly elaborate upon the company’s expansion trajectory
Magna’s expansion strategy is focused on increasing production capacity and expanding our distribution network, particularly in South India. We are targeting key regions with high growth potential, ensuring that our Eco-Steel TMT Bars are accessible across India. Our commitment to quality and sustainability remains at the core of our growth plans, as we continue to innovate and adapt to market needs.

(Communication by the management of the company)