Indian Economy News

JSW Steel signs MoU with German firm to cut carbon emissions, will invest Rs. 10,000 crore (US$ 1.26 billion)

  • IBEF
  • September 14, 2022

On September 13, JSW Steel signed a MoU with German engineering and technology firm SMS group to reduce carbon emissions at its mills. JSW Steel is expected to roughly invest Rs. 10,000 crore (US$ 1.26 billion) for the same.

JSW Steel also expects to reduce greenhouse gas (GHG) emissions by 42% to 1.95 tonnes of CO2 per tonne of crude steel (tcs) by 2030 with this partnership.

JSW Steel will concentrate on switching from thermal power to renewable energy, boosting the use of steel scrap in its operations, and improving the beneficiation of low-and medium-grade iron ore. The company hopes that the partnership will enable it to make green steel and reduce carbon emissions.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.