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

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code