JSW Steel Chairman and Managing Director Sajjan Jindal announced that the company will invest Rs 50,000–60,000 crore over the next three to four years to set up 10 million tonne per annum (MTPA) of green steel capacity near Mumbai. 

The investment is part of a brownfield expansion at its plant located in Salav in Raigad district of Maharashtra.

This move comes in response to a European mandate on green steel, which is pushing global producers to adopt more sustainable practices. The company had earlier announced plans to increase Salav plant’s green steel capacity to four MTPA in phases. 

The broader vision is for JSW Steel to become the largest steel producer in the world, scaling from its current 34.2 MTPA to a future target of 100 MTPA.

Meanwhile, the government is working on safeguard duties that will be introduced to protect the domestic industry. India, with its 10-12 percent annual growth in steel demand, needs to add 20 MTPA of capacity per year, requiring about USD 20 billion annually in investments.