JSW Steel signs pact for decarbonisation of steel sector
Steel

JSW Steel signs pact for decarbonisation of steel sector

JSW Steel, led by Sajjan Jindal, has struck a deal with Smartex to encourage innovation and turnkey approaches—from financing to technology availability and market access—to decarbonize India's steel business.

During the 2022 Climate Week in New York, Smartex launched the Financing Steel Decarbonisation (FSD) programme. FSD is establishing a $1 billion steel decarbonisation fund as well as an eco-system to aid in the decarbonisation of the steel sector.

India, the world's second-largest steel producer, is responsible for more than 10% of CO2 emissions from energy systems. Decarbonising steel manufacturing is difficult, with options either financially unviable or in the early phases of development.

SDF will host a technical assistance facility for identified decarbonisation projects’ preparation and a blended technology debt fund for low-cost long-term financing solutions to be explored.

Also Read
Vedanta’s aluminium output up by 2 per cent
Nippon Steels’ Indian JV ArcelorMittal to invest Rs 410 billion

JSW Steel, led by Sajjan Jindal, has struck a deal with Smartex to encourage innovation and turnkey approaches—from financing to technology availability and market access—to decarbonize India's steel business. During the 2022 Climate Week in New York, Smartex launched the Financing Steel Decarbonisation (FSD) programme. FSD is establishing a $1 billion steel decarbonisation fund as well as an eco-system to aid in the decarbonisation of the steel sector. India, the world's second-largest steel producer, is responsible for more than 10% of CO2 emissions from energy systems. Decarbonising steel manufacturing is difficult, with options either financially unviable or in the early phases of development. SDF will host a technical assistance facility for identified decarbonisation projects’ preparation and a blended technology debt fund for low-cost long-term financing solutions to be explored. Also Read Vedanta’s aluminium output up by 2 per cent Nippon Steels’ Indian JV ArcelorMittal to invest Rs 410 billion

Next Story
Infrastructure Transport

BMC Gets CRZ Nod For Rs 40 Million Gorai Bridge Rebuild

The Brihanmumbai Municipal Corporation (BMC) has secured Coastal Regulation Zone (CRZ) clearance for the reconstruction of the Poisar River bridge in Gorai, located in Mumbai’s western suburbs. However, the proposed demolition of the existing 100-metre bridge has sparked opposition from local residents, who claim it serves as the only direct access route between the Lower and Upper Koliwada areas. The three-decade-old bridge, situated within the CRZ buffer zone, was recently declared structurally unsafe following a civic audit. The BMC has sanctioned its reconstruction at an estimated cost ..

Next Story
Infrastructure Transport

NHAI Completes Rs 15.9 Billion Four-Lane Stretch On ECR

The National Highways Authority of India (NHAI) has completed the four-laning of the 38 km Puducherry–Poondiyankuppam stretch, ending near Cuddalore, in a development that will cut travel time by up to two hours, according to a report by The New Indian Express. The upgraded section, built at a cost of Rs 15.9 billion under the Bharatmala Pariyojana Phase I, marks a major milestone in the ongoing East Coast Road (ECR) widening programme. The project promises a smoother, faster drive for motorists travelling towards Cuddalore, Chidambaram, Sirkazhi, and Nagapattinam. With this completion, 22..

Next Story
Infrastructure Transport

Encroachments Delay Rs 1 Billion Ghatkopar Bridge Project

The construction of a new cable-stayed rail overbridge at Ghatkopar and the widening of the Andheri–Ghatkopar Link Road (AGLR) have been delayed due to the presence of nearly 250 encroached structures on both sides of the road. In response, Municipal Commissioner Bhushan Gagrani has directed officials to carry out a structural audit of the existing bridge over the railway line and enforce temporary restrictions on heavy vehicles to ensure public safety. The bridge, which starts at the Golibar Road junction near LBS Marg and extends up to the Eastern Express Highway (EEH), serves as a critic..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?