Moneycontrol reported that JSW Steel’s Chairman and Managing Director Mr Sajjan Jindal, during an industry event, said that proactive government support through well-designed policy will ensure that the Indian steel industry is not discouraged from making the transition to green production. He said “Viable green steel production could be more than a decade away even though several of the world’s major steelmakers, including us at JSW, are actively developing plans to adopt the process to meet carbon-neutral goals. In this context, switching to clean hydrogen seems to be the most likely immediate solution to get to net zero.”According to Mr Jindal, the steel industry has a crucial role to play in fulfilling the target of net zero emissions from India by 2070 as set by Prime Minister Narendra Modi at the COP26 climate conference. He said “While the industry accounts for 0.7% of the world’s economic output, it contributes 7% towards the global emissions. This needs to change and needs to change fast. Curtailing carbon emissions will require major upgrades at the steel mills and the initiative will have to be taken at the industry as well as policy level.”Mr Jindal said “A new transformative approach would be required, which includes using carbon capture, utilisation and storage with the existing fossil fuel-based iron making BF-BOF, substituting hydrogen for carbon as a reductant and using renewable electrical energy. With the deployment of best available technologies, low-carbon steelmaking would become competitive with respect to conventional methods, but the transition period may involve high initial capital costs. While the prices of renewable electricity and green hydrogen are falling fast, the capital costs of setting up new plants and shuttering old ones, I foresee will be a major barrier to change.”He added “In such a scenario, proactive government support through well-designed policy will ensure that the industry is not discouraged from making the transition to green production.”
Moneycontrol reported that JSW Steel’s Chairman and Managing Director Mr Sajjan Jindal, during an industry event, said that proactive government support through well-designed policy will ensure that the Indian steel industry is not discouraged from making the transition to green production. He said “Viable green steel production could be more than a decade away even though several of the world’s major steelmakers, including us at JSW, are actively developing plans to adopt the process to meet carbon-neutral goals. In this context, switching to clean hydrogen seems to be the most likely immediate solution to get to net zero.”According to Mr Jindal, the steel industry has a crucial role to play in fulfilling the target of net zero emissions from India by 2070 as set by Prime Minister Narendra Modi at the COP26 climate conference. He said “While the industry accounts for 0.7% of the world’s economic output, it contributes 7% towards the global emissions. This needs to change and needs to change fast. Curtailing carbon emissions will require major upgrades at the steel mills and the initiative will have to be taken at the industry as well as policy level.”Mr Jindal said “A new transformative approach would be required, which includes using carbon capture, utilisation and storage with the existing fossil fuel-based iron making BF-BOF, substituting hydrogen for carbon as a reductant and using renewable electrical energy. With the deployment of best available technologies, low-carbon steelmaking would become competitive with respect to conventional methods, but the transition period may involve high initial capital costs. While the prices of renewable electricity and green hydrogen are falling fast, the capital costs of setting up new plants and shuttering old ones, I foresee will be a major barrier to change.”He added “In such a scenario, proactive government support through well-designed policy will ensure that the industry is not discouraged from making the transition to green production.”
