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ENVIRONMENTAL

Energy Consumption

The steelmaking industry is inherently energy intensive, with substantial electricity consumption driving production processes. At Masteel, we continuously enhance our technological capabilities and remain committed to optimising energy usage through our comprehensive Energy Management Policy. This policy is built upon five key pillars:

  1. Energy Efficiency – Implementing advanced technologies and best practices to enhance operational energy performance.
  2. Solar Power – Expanding renewable energy integration to reduce reliance on conventional energy sources.
  3. Conservation – Promoting responsible energy consumption across all production stages.
  4. Compliance – Adhering to national and international energy management standards.
  5. Continuous Improvement – Regularly evaluating and refining energy strategies for long-term sustainability.

In FY2024, Masteel achieved a significant milestone by successfully obtaining ISO 50001:2018 Energy Management Systems certification. This accreditation underscores our proactive approach to energy management and reinforces our commitment to sustainable steelmaking practices. By adhering to these stringent guidelines, we effectively identify and implement initiatives that enhance energy efficiency, reduce waste, and lower our carbon footprint. This achievement is instrumental in optimising energy consumption while supporting our long-term sustainability goals.

Since the full implementation of the Induction Furnace (“IF”) in 2022, Masteel has achieved significant improvements in energy efficiency and resource optimisation. One of the most notable advancements has been the reduction in raw material consumption, particularly in natural gas and oxygen, which has directly contributed to lowering our carbon footprint. For FY2024, our total electricity consumption was recorded at 398,450,750 kilowatt-hours (kWh), marking a 7.1% reduction compared to FY2023’s 428,835,395 kWh. This decline in electricity usage translates into a measurable reduction in carbon emissions (5.1%), reinforcing our commitment to energy conservation and sustainable manufacturing.

The primary factor behind this improvement is the removal of the electric induction heater for billet reheating. Previously, billet reheating required additional electrical input; however, with process optimisation, we now directly charge billets from the Continuous Casting Machine (“CCM”). This approach leverages the residual heat from the CCM, reducing the need for external heating sources and, in turn, lowering overall energy consumption. This transition not only improves energy efficiency but also reduces production costs and emissions, making our steel manufacturing process more sustainable.

Operating in an energy-intensive industry, Masteel remains steadfast in its commitment to continuous improvement and adherence to global energy management standards. Our sustainability initiatives are aligned with broader environmental goals, ensuring that we take proactive measures to minimise our carbon footprint.

To further enhance our energy optimisation efforts, we actively promote a culture of energy conservation among our workforce, emphasising the importance of sustainable practices in day-to-day operations. Additionally, renewable energy integration, particularly through the installation of solar panels, plays a crucial role in our long-term strategy. By harnessing solar power, we aim to supplement our energy needs with clean energy sources, reinforcing our position as a responsible and forward-thinking industry player in the steel manufacturing sector.

Masteel remains committed to innovating, optimising, and investing in sustainable energy solutions, ensuring that we contribute positively to both the industry and the environment.