- 14 Sep 2022
- ICICIdirect Research
JSW Steel collaborates with German company in decarbonisation driveJSWSTEEL - 661 Change: 2.95 (0.45 %)
News: JSW Steel has entered into a collaboration with Germany–based engineering and technology company SMS group to explore multiple cutting-edge solutions and R&D projects to reduce carbon emission in its iron and steelmaking operations in India. A memorandum of understanding (MoU) between JSW Steel and SMS group GmbH, has been signed for exploring solutions for implementation of decarbonisation projects across various JSW Steel plants in India.
View: To achieve the task of decarbonisation at various JSW Steel plants, the SMS group will use their expertise and experience in metallurgy, industrial processes and digitisation, and provide its technology experts design, engineering consultancy and commissioning to execute various projects. JSW Steel is investing Rs 10,000 crore to reduce carbon emissions from steel manufacturing, it aims to bring down GHG emissions by 42% (from the base year 2005 levels) to < 1.95 tonnes of CO2 per tonne of crude steel (TCS) by 2030. JSW Steel will focus on replacing thermal power with renewable power, higher usage of steel scrap in its operations and increasing the beneficiation of low and medium-grade iron ore.