India’s JSW Steel Ltd has inked a pact with National Steel Holding Limited (NSHL) New Zealand to set up scrap shredding facility in India. JSW Steel Ltd has entered in a JV with NSHL for purpose of establishing scrap shredding facilities in India using industry leading machinery, technical know-how and relevant process.
“This is in furtherance of the company’s endeavour to reduce carbon footprints by setting a target of achieving 42 % in carbon dioxide emission intensity by 2030 with 2005 as base year,”.
NSHL is engaged in business of metal recycling, collection, processing based in Auckland, New Zealand and has relevant expertise and technical know-how in end-to-end processing and recycling, JSW Steel said. Both JSW Steel Ltd and NDHL will hold 50% stake each in the equity of the processed JV.