India’s JSW Group plans to invest up to $7 billion in green steel production

India’s JSW Group plans to invest 500-600 billion Indian rupees ($5.8-7 billion) in the development of its green steel plant in the populated Salav punt (Maharashtra). This was reported by The Statesman.

According to Sajjan Jindal, Chairman and Managing Director of JSW, the plant will export its products to the European market, which is in the process of introducing a cross-border carbon adjustment mechanism (CBAM). The investment will last for three to four years.

“We will set up a separate steel plant with a capacity of 10 million tons per year only for environmentally friendly steel that will be exported to Europe,” Jindal said.

The plant will initially run on natural gas, but will have the technology to switch to hydrogen when zero-carbon steel is required, the JSW chairman and managing director added.

He also said that the Indian steel sector needs to be protected from the threat of foreign steel dumping, especially from China. In his opinion, the country’s steel industry, which is still developing, should earn enough money to be able to invest and expand.

As GMK Center reported earlier, India’s steel industry is showing rapid growth. In FY2025, its capacity reached 205 million tons per year, up 10% from 186 million tons a year earlier. Over the past decade, the figure has almost doubled. This growth reflects the country’s economic development, urbanization and active public investment in infrastructure.