JSW Steel of India said that it will work with the SMS group of Germany and invest INR 100 billion (USD 1.26 billion) to reduce carbon emissions at its operations.
According to a statement from JSW Steel, SMS group will offer its technical specialists, design, engineering consulting, and commissioning to carry out various projects for decarbonization.
According to the company's statement, JSW Steel aims to reduce greenhouse gas emissions by 42% to less than 1.95 tons of carbon dioxide per ton of crude steel by 2030.
The firm also stated that it will concentrate on using more steel waste, less thermal electricity, and more beneficiation, or the processing of raw minerals like low- and medium-grade iron ore.
According to JSW Steel, the partnership would enable it to manufacture "green steel in one of the hard-to-abate industries."
Steel producers around the world are making significant investments to reduce carbon emissions as their industry released more than 3.3 billion tons of the greenhouse gas last year, according to consulting firm Wood Mackenzie.
The materials and information on this article have been prepared or assembled by Viet Nam Steel and are intended for informational purposes only.