JSW Steel, German group join hands for carbon reduction projects

To explore decarbonization initiatives at the Indian company's plants, JSW Steel and SMS group, a German engineering and technology company, have signed an MoU. According to reports, the partnerships would see the companies work together to find ways to reduce carbon emissions and make green steel. The SMS group would provide its specialists for the design, technical advice and commissioning of projects. The industry would have to undergo significant improvements and capital expenditures in factories to reach net zero. JSW Steel has set a target of reducing greenhouse gas emissions by 42 percent (from base year 2005 levels) to less than 1.95 tons of CO2 per ton of crude steel by 2030. JSW Steel is investing Rs 100 billion to carbon emissions from the steel production process.