India’s JSW Steel Limited has floated a wholly-owned subsidiary JSW Green Steel Limited, the company said in a regulatory filing on Thursday, February 29.
It said that the new subsidiary will manufacture hot rolled coil (HRC) and cold rolled coil (CRC) in line with JSW Steel Limited’s primary line of business.
Last year, JSW Steel Limited had announced the construction of a green steel manufacturing facility by 2030 as part of its response to the EU’s Carbon Border Adjustment Mechanism (CBAM).
It plans to have a green steel mill of 4 million mt per year capacity, with a first phase of 2 million mt and subsequently adding another 2 million mt per year capacity, with the full project to be completed by 2030.
The low carbon emitting steel mill will be located in western India and will provide low carbon green steel for the domestic and international markets.
