Business

World Steel Association elects JSW Steel’s Sajjan Jindal as Chairman

The World Steel Association (WSA) on Wednesday said that it has elected Chairman and Managing Director as its Chairmanfor the 2021-22 period.

With this, Jindal becomes the first representative from India to serve as Chairman of the WSA.

Jindal addressed the board members of WSA thanking his predecessor Yu Yong for his capable chairmanship over the last two years and noting the challenges for the global industry going forward, particularly with respect of climate change.

WSA acts as the focal point for the steel industry, providing global leadership on all major strategic issues impacting the industry, particularly focusing on economic, environmental, and social sustainability.

Its members represent approximately 85 per cent of the world’s steel production, including more than 160 steel producers, national and regional steel industry associations and steel research institutes.

Established in 1967, it is one of the largest industry representations in the world, and is headquartered in Brussels.

Eengaged in the manufacturing of iron and steel products in India and across the globe, JSW Group’s flagship is India’s leading and one of the world’s most efficient integrated steel-makers. The company is executing expansion projects to reach a steelmaking capacity of 37.5 MTPA by FY2025, including 1.5 MTPA capacity in the US and entities under joint control, from 18 MTPA as of FY2021. The company has a goal of reaching 45 MTPA steelmaking capacity by FY2030.

is also investing in R&D for sustainable products and controlling emissions, improving resource consumption, making processes efficient, and ensuring multi-pronged digital focus, helping improve existing practices. It has issued the global steel industry’s first sustainability-Linked US dollar bond in 2021, linked to its decarbonisation target for 2030.

Established in 1982, the company primarily produces hot-rolled and cold-rolled coils. It provides colour-coated products, thermo-mechanically treated (TMT) bars, wire rods, and special alloy steel products. These products are used in automotive, general engineering, machinery, projects, and construction applications. These products serve the domestic market, and are exported to more than 100 countries.

–IANS

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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