JSW Steel will invest more than £ 50,000 crore to create 10 mtpa of green steel capacity: Sajjan Jindal | Mint

Sajjan Jindal, chairman and managing director of JSW Steel, said on Tuesday that the company will invest more than £ 50,000 crore over the next three years to create 10 million tonnes per year green steel capacity at a factory near Mumbai. The investment is necessitated by a European mandate on green steel. “We will invest £ 50,000-60,000 crore for the green steel capacity,” Jindal told reporters on the part of an event in Mumbai. He also said it would be a Brownfield investment at his plant in the Salav of Raigad District. Last month, the steelmaker announced plans to raise the green steel ability at Salav to 4 MTPA in phases. Jindal further said that the 10 MTPA capacity would radiate a fifth of the carbon as used by conventional plants at present. China and Vietnam try to steel “China and Vietnam try to shower steel,” Jindal said, adding that the government is putting protection duties that will be in place in a few days. The strong demand for steel on the back of high economic growth attracts the world’s attention, Jindal said. The Indian government is careful to ensure that there are no profitable steel companies, he said, explaining the reasons for the precautions. China is at its peak from a steel consumption perspective and the production of the back scale, he said, adding that it is looking at global markets to sell the excess steel, Jindal said. Last year, China exported 120 million tonnes of steel. Given the growth of 10-12 percent in demand each year, India must add 20 million tonnes of steel capacity per year, which works out an investment of $ 20 billion a year. The poor JSW steel of the $ 24 billion group wants to be the largest steel producer in the world with a capacity of 100 million tonnes per year from the current 34.2 MTPA. The diversified group wants to manufacture batteryzes in India using Chinese technology, Jindal said, adding that the group is also in contact with a Korean business for the same technology. First published: 15 Apr 2025, 22:40 IST