It is no secret that globally, energy resources are depleting rapidly. A revolution has started worldwide, demanding accountability for the use of these resources. We as steel manufacturer are the energy intensive operation and one of our biggest challenge is effective energy management. Every day we ensure efficient use of energy in our day to day manufacturing process and activities. We periodically monitor progress in energy and climate change management and guides implementation of best practices to maximize our offsets.
Cost of Energy is significant in overall costs of steel production, it is becoming increasingly important to reduce our electricity and fuel oil consumption. Use of EAF (Electric Arc Furnace) for manufacturing makes us significantly energy dependent. We aspire to become the benchmark in the class by methods improvement and through best technology adoption. Our reheating furnaces for rolling and forging processes use fossil fuel as an energy source. Over the period we have reduced specific oil consumption through methods improvement as well as technology change.
We have adopted road-map to reduce our environmental foot-printing with identified key projects to achieve 20% reduction in specific electricity consumption by F 21 over the base year of F 13. Also, there is a target to reduce the specific oil consumption by 70 % till F 21 over the base year of F 13. We have invested in different energy efficiency project over the period of time. Few years back we introduced Oxy-Fuel technology in our furnaces which improves heat transfer in combustion. This technology not only help us to reduce our oil consumption but also to reduce our pollution load in the process. Every year we celebrate energy month to create awareness among the employee about the energy conservation, saving and avoid wastage of energy wherever possible.