JSW Steel partners with German firm SMS Group for decarbonisation drive
Sep 13, 2022
Mumbai (Maharashtra) [India], September 13 : JSW Steel, the flagship company of the $22 billion JSW Group, on Tuesday forged a collaboration with German-based engineering and technology company SMS group to explore multiple cutting-edge solutions and R&D projects to reduce carbon emission in its iron and steelmaking operations in India.
The collaboration will enable the companies to explore opportunities together to reduce carbon emissions and produce green steel in one of the hard-to-abate sectors, according to a joint statement released by the two companies.
A Memorandum of Understanding (MoU) between JSW Steel and SMS group GmbH, was signed on Tuesday in Mumbai for exploring solutions for the implementation of the decarbonisation projects across various JSW Steel plants in India.
To achieve the task of decarbonisation at various JSW Steel plants, the SMS group, the leading partner with the world use their expertise and experience in metallurgy, industrial processes and digitalisation, shall provide its technology experts design, engineering consultancy and commissioning for executing various projects.
Commenting on the deal, Sajjan Jindal, Chairman & MD, JSW Steel said, "While the steel Industry accounts for 0.7 per cent of the world's economic output, the industry also contributes 7 per cent towards global emissions. We need a new transformative approach focused on green steel vision. With our technology partner SMS group, we are on our way to turning metals green in the world."
"We are also committed to build and continually upgrade all our plants with latest available technologies to ensure safe, secure and healthy future for all our stakeholders/ communities. Achieving net zero in steel industry will require major upgrades and capital investments at the steel mills and the initiative will have to be taken at the industry as well as policy level," Jindal said.
As part of the deal, JSW Steel shall make available at its plants all the support to SMS group like raw materials, consumables and manpower for exploring solutions for the implementation of general decarbonisation projects.
"Our knowhow and experience in metallurgy combined with our digital expertise and plant technology consultancy enable SMS group and JSW Steel to create a greener metals industry," said Burkhard Dahmen, Chairman of the Managing Board & CEO, SMS Group.
