JSW Steel's planned growth is equal to capacities in last 20 years

15 Dec 2021 CW Team

Chairman Sajjan Jindal told the media that JSW Steel's proposed development in the coming four years is equal to the capacities it attained in the last two decades.

At JSW Steel, they are including capacity at an exceptional rate, Jindal said, speaking at the Bengal Chamber of Commerce and Industry.

With more than a trillion dollars of investment proposed by India in infrastructure, the nation's path to being identified as a global economic powerhouse is paved in steel. Raw material security, especially that of coking coal, is necessary. Presently, the only commercially feasible way of generating steel from iron ore is by utilising fossil fuels like coking coal as reducing agents.

Global coking coal costs had soared to $432 a tonne in October from $280 in August, after a disruption in the global supply chain. Jindal said that India has got a new position as the factory of the world, as the world seeks alternatives to China. They are the front-runners in substituting this East Asian giant given trained manpower, followed by their abundant natural resources and access to quality raw material.

Additionally, Jindal repeated the significance of adopting renewable power sources and creating green steel and said that shifting to clean hydrogen is the key towards net-zero emissions in India.

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Also read: JSW Steel plans Rs 150 cr investment for steel plant in Kashmir

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