Business

IIE DIGITAL DESK : JSW Steel has announced a landmark investment of ₹50,000 to ₹60,000 crore to establish a 10 million tonnes per annum (MTPA) green steel plant in Maharashtra, marking a significant step in India’s push toward sustainable and environmentally friendly industrial growth. The announcement was made following a high-level meeting between JSW Group Chairman Sajjan Jindal and Maharashtra Chief Minister Eknath Shinde, indicating the state's commitment to attracting large-scale, green industrial investments.

This mega project is expected to be a game-changer for both the steel industry and Maharashtra’s economy. The proposed plant will be one of the largest green steel facilities in the country, utilizing low-carbon technologies and renewable energy sources in its production process. JSW Steel’s plan aligns with India’s broader commitment to achieving net-zero emissions by 2070, as outlined at the COP26 climate summit.

The upcoming plant is likely to be located in coastal Maharashtra to ensure easier access to raw materials and export infrastructure. The project is also expected to generate thousands of direct and indirect jobs, giving a major boost to local employment and allied industries such as logistics, construction, and energy.

JSW Steel’s decision comes at a time when global demand for green steel is rising, with increasing pressure on industries to adopt environmentally responsible practices. With this move, JSW positions itself as a pioneer in India’s green industrial transformation, further cementing its status as a leader in the steel manufacturing sector.

Maharashtra government officials have assured full cooperation in terms of land allocation, infrastructure, and policy support to ensure smooth execution of the project.