CORPORATE
JSW Steel to fund 10-mtpa green steel plant with over Rs 50,000-crore investment
- IBJ Bureau
- Apr 16, 2025
JSW Steel will be investing over Rs 50,000 crore to create 10 million tonnes per annum (mtpa) of green steel capacity at a plant near the country’s financial capital, a top executive of the company has said.
“We will be investing Rs 50,000-60,000 crore for the green steel capacity,” Jindal has said on the sidelines of an event in Mumbai.
He said that this will be a brownfield investment at its plant in Raigad district’s Salav, and the investment will happen over the next three-four years.
In March, the company had announced plans to increase the green steel capacity in Salav to 4 mtpa in phases.
The investment is necessitated because of a European mandate on green steel, and Jindal has said that the 10-mtpa capacity will emit a fifth of the carbon as used by conventional plants currently.
Jindal has also added that China and Vietnam are trying to dump steel into India, and expected the “vigilant” government to slap safeguard duties to protect domestic steel-makers like his company.
Denying notions of the sector being inefficient, Jindal said the sector needs investments of $20 billion per year and sufficient profits will be required by Indian steel-makers for investing in capacity creation.
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