JSW Steel, announced it will invest $1 billion to reduce its carbon emissions and aims to achieve net neutrality by 2050.
Emission Reduction Plans
In the first phase, JSW Steel plans to cut emissions to 1.95 tonnes of CO2 per tonne of steel by 2030, down from the current 2.36 tonnes. This is important because the steel industry uses a lot of energy in India and contributes significantly to the country’s total carbon emissions.
Long-Term Goals
By 2050, JSW Steel aims to reach net neutrality using green hydrogen and carbon capture technologies. JSW Steel will improve processes and energy efficiency. The company will switch to renewable energy sources. It will use higher quality raw materials and explore alternative fuel options.
Expansion Plans
JSW Steel aims to increase production capacity to 51.5 million tonnes by 2030-31 and exceed 43 million tonnes by September 2027. This growth will be supported by a capital expenditure of Rs 64,434 crore over the next three years, focusing on expanding the Dolvi plant.
Financial Strategy
For the current financial year, JSW Steel has a consolidated capital expenditure plan of Rs 20,000 crore. The company aims to complete its expansion projects cost-efficiently and enhance its capacity. The Dolvi plant, located near key markets in Western India, is expected to provide significant benefits when the project is completed in September 2027.
