Primegold Steel & Power has been a part of the wind power sector, alongside long-term renewable energy contracts and solar power. The company’s continued investment in clean energy accelerates its transition to sustainable operations and eco-friendly steel manufacturing.
Primegold Steel & Power Ltd has been changed to Primegold International Ltd, marking a decisive shift toward green energy and sustainable steel production. This evolution reflects the company’s steadfast dedication to a greener future, combining renewable power with its industrial expertise to deliver cost-effective, eco-friendly “green steel” for the global market.
Primegold Steel & Power is also setting up a 20 MW solar power plant in Ariyalur, Tamil Nadu. The renewable energy produced will be dedicated to captive power consumption, reinforcing the company’s commitment to eco-friendly operations. The company has secured the required land and ₹65 crore in funding from IREDA for this solar initiative, with construction set to begin in April and commercial operations expected by August 2025.
Achin Aggarwal, Managing Director of Primegold Steel & Power, has been working on the financial resurgence with positive company performance results. From a turnover of ₹280 crores in FY 2019–20, Primegold has expanded, achieving a group turnover of ₹800 crores in FY 2024–25. This expansion was further supported by a strategic backward integration in 2020, which included the installation of a steel melting furnace and entry into the warehousing sector, entirely funded by internal accruals.
“This foray into green energy, starting with our solar power plant, is a natural evolution for Primegold,” stated Achin Aggarwal, Managing Director of Primegold Steel & Power. “We believe that sustainable practices are not just an ethical imperative but also a crucial driver for long-term value creation. Our aim is to produce steel that is not only of the highest quality but also environmentally responsible, contributing to a greener future for all.”
A significant milestone in the company’s journey was the landmark joint venture with the Steel Authority of India Ltd (SAIL) in 2015, forming Primegold SAIL JVC, which proudly celebrates its 10th anniversary this year, along with his youngest brother Pulkit Aggarwal.
Primegold Steel & Power’s remarkable turnaround—from the brink of financial ruin to becoming a debt-free leader in sustainable innovation—is a testament to resilience and visionary strategy. Much like the steel it forges, the company has endured immense pressure, emerging stronger and now positioned to drive India’s green revolution and global sustainability efforts.