JSW Group is investing Rs 50,000 to Rs 60,000 crore to set up a 10 million tonnes per annum (mtpa) green steel plant in Salav, Raigad, Maharashtra. The plant will address mainly to Europe, which is tightening its rules on carbon emissions.
JSW Group Chairman Sajjan Jindal announced the green steel plant at the Indian Chamber of Commerce centenary celebrations. The plant is designed to meet the European Union’s Carbon Border Adjustment Mechanism (CBAM), which puts a carbon cost on goods imported into the EU to reduce global emissions.
“We will set up a separate steel plant which will be 10 million tonnes per annum steel plant only for green steel and it will export into Europe,” Jindal said.
The plant will initially run on natural gas but is designed to switch to hydrogen in the future to produce zero-carbon steel as demand grows. Jindal confirmed that this is an expansion of an existing facility and will take around 3 to 4 years to complete.
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