The steelmaking industry is renowned for its high energy demands, primarily reliant on substantial electricity consumption. At Masteel, we persistently enhance our technological capabilities and steadfastly uphold our commitment to efficiently manage energy consumption through the implementation of our Energy Management policy. This policy focuses on the following five key objectives and targets

1. 1. Energy Efficiency
   2. Solar Power
   3. Conservation
   4. Compliance
   5. Continuous Improvement

We are making progress towards achieving compliance with the ISO50001:2018 Energy Management Systems underscores our proactive approach to energy management, demonstrating our commitment to sustainable practices in the steelmaking process. Following these strict guidelines allows us to effectively identify and apply actions that enhance energy efficiency and lower our carbon footprint. This accreditation is crucial for achieving optimal energy use and minimising energy wastage.

Since the complete implementation of the Induction Furnace (“IF”) in 2022, there has been a notable reduction in our raw material consumption, particularly in terms of natural gas and oxygen, which has effectively lowered our carbon footprint. For FY2023, we reported that our total energy consumption reached 428,835,395 kilowatt-hours (kWh). This translates to a carbon intensity of 0.383. This indicates a minor uptick from the previous year due to the recent installation of a new induction heater at the Rolling Mill 2 plant. This new equipment replaces the traditional reheating furnace that uses natural gas, a fuel more harmful to the environment.

In a sector known for its high energy intensity, our focus on continuous improvement and adherence to global standards positions Masteel as a responsible industry player. This commitment aligns with environmental goals and emphasises our dedication to responsible and sustainable business practices in the steel manufacturing domain. We remain steadfast in our commitment to implementing diverse environmentally conscious initiatives to optimise energy consumption. These efforts encompass maximising energy efficiency and fostering a culture of energy conservation among our workforce at Masteel. Additionally, the installation of solar panels to harness renewable energy sources is to be the integral part of our daily operations.