Jindal believes the company’s products could gain traction given the ongoing infrastructure focus of the government. “We are the only private company producing railroad rails. We make beams of large sizes, which are very important in bridge manufacturing. And we are the only ones doing that in the country. There are a lot of other speciality products, which are used in defence application and ship building etc. The overall idea is how to be more efficient, reduce our emissions, reduce cost and improve efficiency,” says Jindal.

Diversification & ESG

JSPL is also on the road to ESG transition and diversification using green hydrogen in steel manufacturing. “We aim to achieve net zero by 2047. We have already started taking steps like reducing emission using green electricity through solar and wind sources. We plan to use green hydrogen in steel making,” he says. The company has approved the largest project in the sector to produce green hydrogen for steel making. This will be used for steel production in Angul, Odisha. Jindal Renewables will develop 4,500 tonnes per annum green hydrogen generation capacity which is set to commence by December 2025. “It is in the planning stage. We made an announcement and are working on it. It will be commissioned in the next two years,” adds Jindal. It has also signed an MoU with Jindal Renewable Power to invest in green hydrogen production. JRPL will supply 3GW renewable energy to JSPL’s facilities, cutting dependence on coal by 50% in two-three years.

On diversification, Jindal believes the steel industry itself is complex. “There are so many possibilities within steel. Within industries associated with steel, diversification of products is possible. Like focusing on CO2 emissions reduction and greening our steel more and more. We remain focussed on steel mining, power generation. But we are moving more and more towards renewables,” says Jindal.

Naveen Jindal

Rising Steel Demand Adds Heft To JSPL

Shareholder returns, low debt make me content: Naveen Jindal