ACME Group Plans Entry into Green Steel Market.

ACME Group is set to invest ₹5,000 crore to establish a 1.2 million tonnes per annum (MTPA) Green Hot Briquetted Iron (HBI) and Green Direct Reduced Iron (DRI) facility, marking a significant step in its foray into the green steel space.

The proposed plant will produce key raw materials—green HBI and DRI—that are essential for manufacturing environmentally sustainable steel. This move aligns with ACME’s broader strategy to support the global transition from traditional, carbon-intensive steel production to cleaner alternatives.

In a major development on the commercial front, the clean energy-focused group has signed a binding term sheet with a Vietnamese company for the long-term sale and purchase of 0.8 MTPA of green HBI and DRI. The agreement, based on a "take or pay / supply or pay" model, spans a period of 10 years, ensuring consistent demand and supply commitments between the two parties.

According to sources, the ₹5,000 crore investment will not only fund the new facility but also position ACME as a key player in enabling the transition from grey to green steel—both in India and globally.