JSW Steel, German group join hands for carbon reduction projects

To explore decarbonization initiatives at the Indian company's mills, JSW Steel and SMS group, a German engineering and technology company, signed an MoU. According to reports, the partnerships would let the businesses together look for ways to cut carbon emissions and make green steel. The SMS group would provide its specialists to projects' design, engineering consultation, and commissioning. The industry would need to undergo significant improvements and capital expenditures at mills in order to reach net zero. JSW Steel has set a target to cut greenhouse gas emissions by 42 per cent (from the base year 2005 levels) to less than 1.95 tonnes of CO2 per tonne of crude steel by 2030. JSW Steel is investing Rs 100 billion to reduce carbon emissions from the steel manufacturing process. Also read: Steel makers see fall in prices JSW Steel posts 22 per cent rise in crude steel production