JSW Steel plans to raise $500 mn by dollar green bonds
Steel

JSW Steel plans to raise $500 mn by dollar green bonds

JSW Steel plans to issue sustainable bonds and raise $500 million in the abroad markets. The steel company has set a goal to become carbon neutral and decrease carbon emission at JSW coated 40% by 2030.

Apart from recycling every solid waste produced and accomplishing zero discharge from the plant, the firm also plans to restore thermal energy with renewable power to decrease its carbon footprint.

JSW Steel would be spending Rs 445 crore to pull up a 26% stake in the JSW Energy subsidiary. It would be establishing 1 GW of wind and solar projects at different locations where steel plants are already set up.

The investment in JSW Energy subsidiaries would meet sustainable energy sourcing and bring down the power cost by Rs 1.30 units.

The government has instructed each company to utilise thermal power to source 21% of their total power needs from renewable sources by 2030.

To source 21% of their total power needs from renewable sources by 2030, the government has instructed each company to utilise thermal power.

Seshagiri Rao, Joint Managing Director, JSW Steel, explaining the recent Rs 750 crore investment in JSW Paints, told the media that JSW Steel demand for industrial paint increased more than four times to 60,000 kilolitre in the previous years. However, the market supply was adequate. When established, JSW Paints had 1.25 kilolitre but only 25,000 kilolitre of developed industrial paints.

Rao said JSW Steel reached 10-15 years of guarantee for the colour coated goods due to the back-to-back arrangements among JSW Paints, which also established an R&D centre at the Vasind steel plant to produce anti-dust and antimicrobial type paints.

Image Source


Also read: JSW Steel reports 62% y-o-y jump at 4.93 mt in Q1 FY22

JSW Steel plans to issue sustainable bonds and raise $500 million in the abroad markets. The steel company has set a goal to become carbon neutral and decrease carbon emission at JSW coated 40% by 2030. Apart from recycling every solid waste produced and accomplishing zero discharge from the plant, the firm also plans to restore thermal energy with renewable power to decrease its carbon footprint. JSW Steel would be spending Rs 445 crore to pull up a 26% stake in the JSW Energy subsidiary. It would be establishing 1 GW of wind and solar projects at different locations where steel plants are already set up. The investment in JSW Energy subsidiaries would meet sustainable energy sourcing and bring down the power cost by Rs 1.30 units. The government has instructed each company to utilise thermal power to source 21% of their total power needs from renewable sources by 2030. To source 21% of their total power needs from renewable sources by 2030, the government has instructed each company to utilise thermal power. Seshagiri Rao, Joint Managing Director, JSW Steel, explaining the recent Rs 750 crore investment in JSW Paints, told the media that JSW Steel demand for industrial paint increased more than four times to 60,000 kilolitre in the previous years. However, the market supply was adequate. When established, JSW Paints had 1.25 kilolitre but only 25,000 kilolitre of developed industrial paints. Rao said JSW Steel reached 10-15 years of guarantee for the colour coated goods due to the back-to-back arrangements among JSW Paints, which also established an R&D centre at the Vasind steel plant to produce anti-dust and antimicrobial type paints. Image Source Also read: JSW Steel reports 62% y-o-y jump at 4.93 mt in Q1 FY22

Next Story
Technology

We’re building robots that flow, not just move

Founded in 2021, Flo Mobility is reimagining construction automation with vision-AI robots designed for seamless movement through complex sites. In conversation with CW, Manesh Jain, Founder & CEO, discusses the company’s origin, its LiDAR-free tech stack, and expansion plans in the Middle East and US.What inspired the name Flo Mobility? Why ‘Flo’ and not ‘Flow’?When we started the company in 2021, our focus was on building autonomous navigation systems for robots. Since our work centred around robot movement, ‘mobility’ naturally became part of the name. We wanted to co..

Next Story
Real Estate

We’re committed to setting benchmarks in sustainable luxury living

From a landmark land acquisition in Boisar to ambitious launches across the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru and Pune, Birla Estates is driving future-ready growth with a strong focus on sustainability, partnerships and premium living, firmly anchored in its LifeDesigned® philosophy. K T Jithendran, Managing Director & CEO, outlines the company’s premium, sustainable growth playbook in conversation with PRATAP PADODE, Editor-in-Chief, CW. Excerpts:Birla Estates recently acquired a 70.92-acre land parcel in Boisar, Maharashtra, for..

Next Story
Infrastructure Urban

Mumbai’s land crunch and ageing homes call for structured renewal

Founded in 2022, Etonhurst Capital Partners is a real-estate fund management platform focused on the Indian market. As the firm achieves the first close of Rs 1.8 billion for its debut Rs 5 billion fund, Bamasish Paul, Co-founder, Managing Partner & CEO, discusses its sharp focus on redevelopment-driven value creation in Mumbai’s urban core with CW. Excerpts:Etonhurst Capital has achieved a significant milestone with the first close of Rs 1.8 billion for its Rs 5 billion fund. What factors contributed to this early success and how do you plan to attract further investments to r..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?