India’s JSW Steel to Invest $1.3 billion to Cut Carbon Emissions – EQ Mag Pro
JSW Steel will collaborate with SMS Group and invest Rs 100 billion Indian (USD 1.26 billion) to cut down carbon emissions at its plants.
The company will provide its technology experts, design, engineering consultancy and commissioning to execute various projects for decarbonisation.
The company will also focus on replacing thermal power with renewable energy, higher use of steel scrap, and increase the processing of raw minerals such as low and medium-grade iron ore.
The company also said it will focus on replacing thermal power with renewable energy, higher use of steel scrap, and increase the processing of raw minerals such as low and medium-grade iron ore, known as beneficiation.
The tieup will help JSW Steel produce “green steel in one of the hard-to-abate sectors,” it said.
Globally, steel makers are investing heavily in cutting down carbon emissions as the sector discharged more than 3.3 billion tonnes of the greenhouse gas last year, according to consultancy Wood Mackenzie. read more
($1 = 79.1400 Indian rupees)
Source: Reuters
