Agha steel, a leading steel production company join hands with the Engro Energy company to receive renewable energy from there renewable energypark which includes solar as well as wind energy production units. The steel industry requires a big load of energy for production which also increases the burden on the national grid.
This step taken by Agha Steel was to help in the initiation of green steel revolution as it will help in the manufacturing of steel on a green environment and decrease a collective load on the national grid. The signing took place at ‘Pakistan Energy Symposium’ at a local hotel in Karachi.
Agha Steel is also looking forward to the installation of MiDa technology for manufacture which will decrease the energy consumption of the company by 20 Percent. The production losses will be lessened by 8 percent. The CEO of Engro Energy Ahsan Zafar said that the basic purpose of creating a pool of green energy on such scale is to open up the energy market and decrease the cost of energy which will automatically play a vital role in the betterment of industrialization and ultimately economic growth of the country. Representing Agha Steel, Mr. Hussain Agha said that it is the goal of the company to become the first of the lot to produce steel on green energy supply without any usage of fossil fuels by 2025. The use of raw and recycled scrap metal as raw material, the company reduces the need for natural resources and also has a reduced CO2 emission and energy consumption overall as compared to the other steel manufacturers internationally.
