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
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?