JSW to invest ₹50,000 crore to set up green steel plant in Maharashtra

The JSW Group plans to set up a 10 million tonnes per annum (mtpa) green steel plant at Salav village of Raigad district in Maharashtra at an investment of around Rs 50,000 to Rs 60,000 crore over a period of four years, JSW Group Chairman Sajjan Jindal officially announced at an event in Mumbai.

- STATESMAN NEWS SERVICE

The green steel plant will export its products to Europe, which is in the process of imposing Carbon Border Adjustment Mechanism (CBAM), Jindal said at the centenary year celebration of the Indian Chamber of Commerce on Tuesday.

"We will set up a separate steel plant which will be a 10 million tonnes per annum steel plant only for green steel which will be exported to Europe," Jindal said.

Jindal said the plant is part of the brownfield expansion and will entail an investment of Rs 50,000-Rs 60,000 crore over a period of three to four years.