Volkswagen AG and Vulcan Green Steel enter into partnership
London, June 12, 2024 , (Oilandgaspress) – The partnership is one of a series of initiatives by the Volkswagen Group to expand the use of green steel in production. In addition to the collaboration with Vulcan Green Steel, Volkswagen has been in partnership with Salzgitter AG since 2022. The Group also has a stake in Swedish green steel manufacturer H2 Green Steel via its subsidiary Scania.
The Jindal Steel Group, to which Vulcan Green Steel belongs, is a diversified industrial conglomerate with steel, iron ore mining and energy operations as well as activities in India, Oman, Africa and Australia.
Starting in 2027, Vulcan Green Steel will produce automotive grades and other high-strength steels in Oman. Natural gas will be used in the Duqm operations during the initial years and later the operations will be switched over to green energy in a move that will cut carbon emissions by 70% once the transition is complete. The facility is currently in the construction phase and is slated to come on stream in 2026.
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