JSW Group to invest Rs 50,000 crore in green steel for European markets

jsw steel

Top steelmaker JSW Steel is considering an investment of Rs 50,000–60,000 crore over the next 3–4 years to scale up green steel production aimed at export markets in Europe, group chairman Sajjan Jindal said on April 15.

The company’s bold push towards sustainability comes at a time when several global firms are scaling back green initiatives, following a policy shift in the United States.

The expansion is expected to take place at the steelmaker's Salav unit, which was recently handed over to JSW Green Steel. "We will scale the production from 0 to 4 million tonnes and then to 10 million tonnes in the next 3-4 years. It will be mostly brownfield expansion," Jindal said on the sidelines of an event organised by the Indian Chamber of Commerce.

The move is crucial as India prepares to align with the EU’s Carbon Border Adjustment Mechanism (CBAM), which imposes carbon-related tariffs on high-emission imports. EU's CBAM tax will be fully implemented from January 1, 2026.

JSW Green Steel was incorporated in February last year to set up a four million tonne per annum (MTPA) integrated green steel plant, as a part of its plan to reduce its carbon footprint.

He added that the plant will initially use natural gas injection in the blast furnace, with plans to transition to green hydrogen at a later stage. “The plant’s carbon emissions will be reduced to one-fifth of current levels,” Jindal said.

Meanwhile, commenting on imports situation, Jindal said a safeguard duty to control the influx from Chinese and Vietnamese producers, is expected soon.

"Government is vigilant on dumping of steel, they are working on recommendations on safe guards duty. The duty will be placed in a few days," he said.

India risks a surge in steel and aluminium imports from Asian countries, as US President Donald Trump’s reciprocal tariffs redirect excess supply from markets like China, South Korea, and Japan. While India’s direct steel exports to the US are limited, the ripple effect could pressure domestic producers through increased dumping.