Indian steel giant JSW Steel plans to set up scrap shredding facilities in India in a joint venture with New Zealand's metal recycler National Steel Holdings Limited and has signed 50:50 joint venture agreements on 18 August 2022. Both firms will share expertise about industry-leading machinery, technical know-how and relevant processes.Auckland New Zealand based National Steel is a full-service metal shredding, a recycling company situated in Manukau in New Zealand. It’s network of collection facilities collects process and recycle ferrous metals and nonferrous metals collected from across New Zealand. India launched the national vehicle scrapping policy in August last year aiming to phase out unfit and polluting vehicles, while increasing domestic scrap metal processing capacity and reducing dependency on scrap imports.JSW had set a target for achieving 42% reduction in carbon emissions by 2030 from a 2005 baseline last year. It had also issued sustainability linked bonds, while its sister company JSW Future Energy had reached an agreement with Australia's Fortescue Future Industries to develop green hydrogen projects in India for use in steelmaking.
Indian steel giant JSW Steel plans to set up scrap shredding facilities in India in a joint venture with New Zealand's metal recycler National Steel Holdings Limited and has signed 50:50 joint venture agreements on 18 August 2022. Both firms will share expertise about industry-leading machinery, technical know-how and relevant processes.Auckland New Zealand based National Steel is a full-service metal shredding, a recycling company situated in Manukau in New Zealand. It’s network of collection facilities collects process and recycle ferrous metals and nonferrous metals collected from across New Zealand. India launched the national vehicle scrapping policy in August last year aiming to phase out unfit and polluting vehicles, while increasing domestic scrap metal processing capacity and reducing dependency on scrap imports.JSW had set a target for achieving 42% reduction in carbon emissions by 2030 from a 2005 baseline last year. It had also issued sustainability linked bonds, while its sister company JSW Future Energy had reached an agreement with Australia's Fortescue Future Industries to develop green hydrogen projects in India for use in steelmaking.
