Sajjan Jindal
| Photo Credit:
Special Arrangement
JSW Steel Ltd. is planning to invest ₹50,000-₹60,000 crore in putting up a 10 million tonne per annum green steel plant at Salav in Maharashtra, JSW Group Chairman Sajjan Jindal said on Tuesday.
The brownfield plant will cater to Europe which is in the process of imposing Carbon Border Adjustment Mechanism.
Mr. Jindal, while speaking at the centenary function of Indian Chamber of Commerce (ICCO), said the investment in the green plant would be made over 3-4 years and cater to the European Union markets.
Initially, the plant will run on natural gas and switch over to hydrogen as the technology evolves. The green steel produced will reduce carbon emission by one-fifth, he said.
Commenting in the proposed anti-dumping duty on steel imports, he said the Steel Ministry has recommended a higher duty but the government should at least start with the Commerce Ministry proposal and hopefully it should be implemented soon.
He said the inconvenience over U.S. President Donald Trump’s tariff was a transitionary phase and things would settle down in 3-4 years.
On the investment in MG Motors, Mr. Jindal dais his objective was to produce high quality cars at low cost.
“India has all the ingredients to make electric vehicles except for battery cells. We are in talks with a Korean company to get the technology in India” he said.
The auto component industry is fully geared up to support EV production in India and they are in fact exporting it all over the world,” he added.
Published – April 15, 2025 09:46 pm IST
