JSW Steel will transfer its sponge iron unit in Salav, Raigad, Maharashtra, to its wholly-owned subsidiary, JSW Green Steel, as part of its plan to reduce its carbon footprint, the company announced in a stock exchange filing.
Established in February last year, JSW Green Steel aims to develop a 4 mln tons per annum integrated green steel plant. To support this initiative, JSW Steel plans to carve out the Salav unit and gradually expand its capacity from 0.9 mln tons per annum to 4 mln tons per annum in phases.
The transfer, expected to be completed by March 31, aligns with JSW Steel’s strategy to produce low-carbon steel for export markets while tracking CO2 emissions separately. The company is also exploring green hydrogen technology for direct reduced iron (DRI) and sponge iron production, reinforcing its commitment to sustainable steelmaking.