Posco to adapt FINEX technology [Feb 2012]

The Steel Secretary, PK Misra, recently admitted that land availability for mega green-field projects will continue to nag promoters till a “widely acceptable policy for Rehabilitation and Resettlement (R&R) which has the acceptance of States emerges.” A Bill on R & R policy is currently being debated in Parliament and “it may hope that the issues relating to land availability will be settled in a harmonious and peaceful manner.”
Mr. Misra’s comment comes in the wake of POSCO and Arcellor Mittal’s long-drawn efforts to set up green-field steel plants in India. According to the Minister, FINEX is an innovative, cost-effective and sustainable technology, developed by POSCO with its engineering partner, Siemens. It is innovative as it directly uses iron ore fines and non-coking coal without coking and sintering processes. It is cost-competitive because it uses low grade raw materials like iron ore fines and non-coking coal and is sustainable and environment-friendly compared to the conventional blast furnace. It emits significantly lower amount of nitrogen oxide, sulphur oxide and dust. It also has great potential for mitigation of carbon dioxide.

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