JSW Steel: Investment plan of Rs 50 thousand crore announced, read full details?

India’s leading steel manufacturer JSW Steel is planning to make a big investment of Rs 50,000–60,000 crore in the next 3 to 4 years. This investment will be made to increase green steel production, whose main focus will be on the export market in Europe. This information was given by Sajjan Jindal, Chairman of JSW Group. This step has been taken at a time when many companies around the world are slowing down sustainability initiatives, especially in view of the new policies of America. However, contrary to this, JSW Group is taking this step. Jindal said that this expansion will be done in the Salav unit of JSW Green Steel, which has recently been taken under the control of JSW.

Jindal said during a program of the Indian Chamber of Commerce that we will first take the production to 40 lakh tonnes and then to 1 crore tonnes and this expansion will happen in the next 3-4 years. This expansion will be mostly brownfield. This expansion is also important because India will now have to align with the EU’s Carbon Border Adjustment Mechanism (CBAM), which will impose tariffs on high emissions. This CBAM tax will be fully implemented from January 1, 2026.

The chairman informed that initially natural gas will be used in the furnace of the plant, but later green hydrogen will be used in its place. He said that the carbon emission from this plant will be reduced to one-fifth of the current level. Meanwhile, commenting on steel imports, Jindal said that the government may soon take a decision on safeguard duty to control steel imports from China and Vietnam.