ACME Group to Invest ₹5,000 Crore in Green Steel Plant
New Delhi, October 12, 2025: The ACME Group announced an investment of ₹5,000 crore for a direct reduced iron (DRI) plant, marking a big advancement in the green steel sector. Initially, the plant will have a capacity of 1.2 million tonnes per annum (MTPA) of Green HBI and Green DRI, which are key raw materials for low carbon steel production.
Manoj Kumar Upadhyay, ACME Group’s chairman, stated, “Our greenfield facility will produce some of the lowest carbon emission HBI and DRI products. This embodies our commitment to clean technology and sustainable development.” Although the exact location is uncertain; sources state it may potentially be either in India or at one of ACME Group’s existing facilities in Oman.
The company has begun its journey for renewable energy. A green hydrogen project is under construction in the Odisha region in India. In addition, another green hydrogen project is being developed in Oman. Both these projects will sit alongside ACME Group’s existing solar, wind, hybrid and large-scale renewable energy projects, exhibiting an operational solar capacity of 2,700 MW.
Moreover, the project is projected to create new employment opportunities in the areas of engineering and operational positions, as well as in supporting industries such as logistics and energy supply. ACME Group would like to apply its expertise in renewable energy to demonstrate an example of sustainable industrial practice in India with the green steel manufacturers.
Analysts suggest that this investment from the company indicates a larger trend among Indian corporates where they begin integrating sustainability into their core business.
The timing of ACME Group’s green steel production is optimal as India is focused solely on clean industrial development in pursuit of its net-zero targets. If ACME’s facility performs well, it could potentially lead to greater interest from organizations interested in investing in other low-carbon manufacturing processes, increase India’s contribution and competitiveness in, the global green economy and address environmental aspirations