JSW Steel, the flagship company of the $22-billion JSW Group, on Tuesday signed a memorandum of understanding (MoU) with Germany-based SMS group to explore multiple cutting-edge solutions and research & development (R&D) projects, to reduce carbon emission in its iron and steelmaking operations in India. The company will invest `10,000 crore to reduce carbon emission in steel making.
The SMS group, renowned worldwide for its future-oriented technologies and outstanding service for the metals industry, will provide its technology experts’ design, engineering consultancy and commissioning for executing various projects.
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Sajjan Jindal, chairman & MD, JSW Steel, said that while the steel Industry accounted for 0.7% of the world’s economic output, the industry also contributes 7% towards global emissions. “We need a new transformative approach focused on a green steel vision. With our technology partner SMS group, we are on our way to turning metals green in the world,” Jindal said, adding the company was committed to build and continually upgrading all its plants with latest available technologies to ensure a safe, secure and healthy future for all its stakeholders. “Achieving net zero in the steel industry will require major upgrades and capital investments at the steel mills. The initiative will have to be taken at the industry as well as policy level,” Jindal said.
Burkhard Dahmen, chairman of the managing board & CEO, SMS group, said the company’s know how and experience in metallurgy, combined with its digital expertise and plant technology consultancy, enable SMS group and JSW Steel to create a greener metals industry.
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JSW Steel targets to bring down GHG (greenhouse gas) emissions by 42% (from the levels of the base year, 2005) to less than 1.95 tonne of carbon dioxide per tonne of crude steel (tcs) 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.The company has set a target of achieving specific water consumption (in steel production) of 2.21 cubic metres/tcs by 2030. Currently, all the facilities follow zero liquid discharge principles. The major steel-producing facilities of JSW Steel operate in water-stressed regions. Thus, the company consistently introduces process improvements to ensure better water conservation and harvesting.