The Business Bytes
Bhadrak, September 17, 2024 (TBB Bureau): Ferro Alloys Corporation Limited (FACOR), a leading name in the production of High Carbon Ferro Chrome and Charge Chrome, has made a significant advancement in its sustainability efforts. On the occasion of Lord Viswakarma Puja, FACOR launched a new electric vehicle (EV) designated for its Quick Response Team (QRT) at its Bhadrak facility.
This strategic move is a cornerstone of FACOR’s ambitious roadmap towards achieving net zero carbon emissions by 2050. The company is also aiming for a 25 per cent reduction in absolute emissions by 2030. The deployment of the EV not only underscores FACOR’s commitment to environmental stewardship but also demonstrates its dedication to innovation, corporate responsibility, and sustainable practices. Notably, the introduction of this electric vehicle is projected to lead to a 40 per cent reduction in annual operational costs.
Expressing his enthusiasm at the launch event, FACOR CEO Pankaj Sharma said, “In alignment with our vision of ‘Transforming the Planet’ and integrating ESG practices into all our operations, we are thrilled to introduce our new Electric Vehicle for our Quick Response Team. This initiative is a crucial step towards our goal of achieving net zero carbon emissions and also aims to raise awareness about green mobility in India for a sustainable future.”
In addition to the EV launch, FACOR has enhanced its sustainability efforts by installing a 14 KVA solar panel system at its Ostapal and Kalarangiatta Chromite Mines. The company has also made a significant community contribution by distributing over 500 solar streetlights. These initiatives reflect FACOR’s ongoing dedication to environmental innovation and community engagement, reinforcing its role as a leader in sustainable industrial practices.
