JSW Steel has signed an agreement with Germany-based engineering and technology company SMS group to explore multiple cutting-edge solutions and R&D projects to reduce carbon emission in its iron and steelmaking operations in India.

The collaboration will enable the companies to explore opportunities together to reduce carbon emissions and produce green steel in one of the hard-to-abate sectors.

JSW Steel and SMS group GmbH signed a memorandum of understanding on Tuesday in Mumbai to explore solutions for implementing decarbonisation projects across JSW Steel plants in India.

The SMS group will provide technology for design, engineering consultancy and commissioning of various projects.

Sajjan Jindal, Managing Director, JSW Steel, said achieving net zero in steel industry will require major upgrades and capital investments at the steel mills and the initiative will have to be taken at the industry and policy level.

“We are also committed to build and continually upgrade all our plants with latest available technologies to ensure safe, secure and healthy future for all our stakeholders/ communities,” he said.

While the steel industry accounts for 0.7 per cent of the world’s economic output, the industry also contributes 7 per cent towards global emissions.

Burkhard Dahmen, Chairman of the Managing Board & CEO, SMS group, said with the company’s know-how and experience in metallurgy combined with our digital expertise and plant technology consultancy enable SMS group and JSW Steel to create a greener metals industry.

JSW Steel plans to invest ₹10,000 crore for reducing carbon emissions from steel manufacturing, targets to bring down GHG emissions by 42 per cent to less than 1.95 tonnes of carbon-di-oxide per tonne of crude steel by 2030.

JSW Steel will focus on replacing thermal power with renewable power, higher usage of steel scrap in its operations, and increasing the beneficiation of low and medium-grade iron ore.

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