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SAIL identifies 71 projects for carbon credits

SAIL identifies 71 projects for carbon credits
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First Published: Sun, May 25 2008. 10 24 AM IST
Updated: Sun, May 25 2008. 10 24 AM IST
PTI
New Delhi: Amid rising threat of global warming, country’s leading steel producer SAIL has identified over 71 potential projects for availing carbon credits.
As part of the first phase, the company has awarded consultancy for 38 projects, a SAIL spokesperson told PTI. These projects would cover the energy-intensive operations in coke ovens, sinter plants and blast furnaces of SAIL units.
In second phase, the company plans to schedule the rest 33 projects, which would focus on basic oxygen furnaces, rolling mills and downstream operations, the official said.
SAIL has already registered one project--LD gas recovery from Steel Melting Shop-II for power generation at Rourkela Steel Plant--for carbon credit.
Carbon credit is issued by Clean Development Mechanism (CDM) Executive Board for emission and reductions achieved by CDM projects and verified under the rules of Kyoto Protocol.
“There is a growing awareness among steel, cement and power companies about carbon credits. They are increasingly working on projects to avail carbon credits, which are widely traded commodity in the world now,” Vandana Bharati, an analyst with Delhi-based SMC Brokerage firm, said.
Total 295 Indian companies are registered with CDM for carbon credits. The country is the second largest seller of carbon credits in the global market, with 6 per cent share in 2007.
Divulging details of other environment-friendly steps, SAIL said it has taken up a Rs 16-crore project to stop the use of approximately 268 million tons of carbon tetrachloride (cleaning solvent) for electrical machines and oxygen plant at its Bokaro, Durgapur, Rourkela, Bhillai and other steel plants.
To ensure a clean environment in and around its plants and mines, the company said it has reduced air emissions by 4.7 per cent to 2.2 kg per tonne of crude steel in 2007-08. It has improved solid waste utilisation of up to 78.7 per cent, reduced water consumption by 8 per cent and planted about 2.6 lakh trees.
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First Published: Sun, May 25 2008. 10 24 AM IST