FCC

Primegold Now Turns to Green Steel

2025-05-06

Primegold International has rebranded itself as Primegold Steel & Power to reflect its entry into green steel production. The company is launching a 20 MW solar power plant in Ariyalur, Tamil Nadu, to generate clean energy for captive use. Backed by Rs 650 million in funding from the Indian Renewable Energy Development Agency, the project is set to begin construction in April.

The company already operates in the wind power sector and holds long-term renewable energy contracts. The solar initiative marks a major step in its sustainability journey.

Primegold’s turnover rose to Rs 8 billion in the last fiscal year, up from Rs 2.8 billion in FY20. This growth was driven by a strategic backward integration move in 2020, when the firm commissioned a steel melting furnace and expanded into warehousing, using only internal accruals.

Managing Director Achin Aggarwal stated that the shift to green energy is a logical progression. “Our aim is to produce steel that is not only of the highest quality but also environmentally responsible,” he said.