Green Steel Revolution: JSW's ₹50,000 Crore Mumbai Push

JSW Steel Chairman and Managing Director, Sajjan Jindal, announced that the company plans to invest between Rs 50,000–60,000 crore over the next three to four years to establish 10 million tonnes per annum (MTPA) of green steel production capacity near Mumbai. This investment will be part of a brownfield expansion at its existing plant in Salav, located in Raigad district, Maharashtra.

This move is in response to a European mandate on green steel, which is driving global steel producers to adopt more sustainable practices. Previously, JSW Steel had outlined plans to progressively increase the Salav plant's green steel capacity to 4 MTPA. The long-term goal is for JSW Steel to become the largest steel producer worldwide, with a targeted increase in production capacity from its current 34.2 MTPA to 100 MTPA.

In parallel, the Indian government is working on implementing safeguard duties to protect the domestic steel industry. Given India’s annual steel demand growth of 10-12%, the country needs to add approximately 20 MTPA of capacity each year, requiring an estimated USD 20 billion in investments annually. As part of its commitment to sustainability, JSW Steel is also exploring the manufacturing of battery cells in India using Chinese and Korean technology, reflecting its broader approach to sustainable industrial growth.

News by Rahul Yelligetti.