New Delhi/Mumbai, 1st October, 2024 – Bharat Petroleum Corporation Limited (BPCL), a Maharatna and India’s second-largest government-owned downstream oil producer, actively participated in the MMMM 2024, a prestigious event focusing on innovations in metal production and sustainable practices in the steel industry. The event, inaugurated by Hon’ble Minister of State for Steel and Heavy Industries, Sri Bhupathiraju Srinivasa Varma, brought together global leaders, industry experts, and key stakeholders from the steel and metal industries.
The event, hosted at Yashobhoomi from September 27 to September 29, 2024, included an international conference on “Process & Product Innovations in Metal Production” and an open seminar on Green Steel Production. Organized by Hyve India Ltd., IIM Delhi Chapter, Metalogic PMS, and the World Metal Forum, the event was a crucial platform for discussing technological advancements and sustainability in the steel sector.
Speaking on the occasion, Hon’ble Minister of State Sri Bhupathiraju Srinivasa Varma lauded the remarkable progress in steel production, with global capacity nearing 2.5 billion tonnes, and India’s significant role as the world’s second-largest steel producer with a capacity of 178 million tonnes in FY’24. He emphasized that the steel sector is at a pivotal moment, with future growth being driven by digitalization and sustainability. The Minister highlighted India’s commitment to reducing carbon emissions, reiterating the promise made by Prime Minister Narendra Modi at COP26 to cut carbon intensity by 45% by 2030 and achieve Net Zero emissions by 2070.
With the steel industry contributing 12% of India’s total emissions, BPCL is aligned with the Government’s vision of decarbonizing the sector. As a key player in the energy landscape, BPCL, through its MAK Lubricants, is committed to supporting the steel industry’s growth and sustainability initiatives.
Shri Subhankar Sen, Business Head (Lubes) at BPCL, emphasized the importance of MAK Lubricants in the ongoing transformation of the steel industry, he said;
“Steel production in India is projected to grow from 140 million tonnes to 300 million tonnes by 2030 at an impressive CAGR of 9.2% and steel industry has been a force multiplier in India’s manufacturing and infrastructure growth story. MAK Lubricants from Bharat Petroleum Corporation Limited is complimenting steel industry’s increasing focus on sustainable practices through its MAK Hydrovis series, MAK Amocam Plus series, MAK Syngear series, MAK Steel grades, MAK Multiplex CS2 grease, MAK Hitemp Xtra grease etc all of which are designed to offer perfect lubricant solutions for facilitating the steel sector’s adoption of sustainable practices. With best-in-class MAK lubricants, we are confident that overall efficiencies in the form of lower total cost of ownership will compliment the larger purpose of value creation for the industry, economy and environment.”
During the event, the Minister of State also released the Conference Volume and Souvenir of the International Conference on Process and Product Innovations in Metal Production, organized by the Indian Institute of Metals-Delhi Chapter. The discussions throughout the event centered on innovations such as energy efficiency, green hydrogen, carbon capture, and the shift from coal-based DRI to natural gas-based DRI, all aimed at reducing the carbon footprint of the steel industry.