JSW Steel to invest ₹60,000 cr in green steel plant in Maharashtra

India is in a sweet spot and should take this opportunity to establish itself in the global arena, said Jindal.
| Photo Credit:
DANISH SIDDIQUI

JSW Steel plans to invest ₹50,000-60,000 crore in putting up a 10 million tonnes per annum green steel plant at Salav in Maharashtra and this plant will cater to Europe which is in the process of imposing Carbon Border Adjustment Mechanism

Sajjan Jindal, Chairman, JSW Group said the investment in the green plant will be made over 3-4 years and will cater to the European Union markets.

Initially, he said that 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 at the centenary year celebration of the Indian Chamber of Commerce in Mumbai on Tuesday.

On the proposed anti-dumping duty on steel imports, he said the Steel Ministry had recommended a higher duty but the government should at least start with the Commerce Ministry proposal and hopefully it should be implemented soon.

The global unrest over (US President) Trump tariff is a transitionary phase and things will settle down in 3-4 years, he said.

Beyond the tie-up with MG Motors, Jindal said he is focusing only on developing high tech cars at affordable prices under JSW Cars.

“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 added.

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 said.

India is in a sweet spot and should take this opportunity to establish itself in the global arena, said Jindal.

Published on April 15, 2025