INSUBCONTINENT EXCLUSIVE:
JSW Steel is the Indian partner of Japan's steel significant JFE Holdings IncJapan's second-biggest steelmaker JFE Holdings Inc will
study the feasibility of forming a joint endeavor with its Indian partner JSW Steel to make and offer electro-magnetic steel sheet used in
transformers, it stated on Friday
Demand for electromagnetic steel sheet is anticipated to grow to show soaring need for electrical power in India, JFE President Koji
Kakigi told a news conference about its new four-year business strategy
We can control the Indian (electro-magnetic steel) market by sharing our innovative technology, he stated, adding that they aim to make a
decision by next March.Under the brand-new organization strategy through March 2025, JFE intends to cut co2 (CO2) emissions from its main
steelmaking operation by 18 percent from 2013 levels, with a target of becoming carbon neutral in 2050
To achieve these objectives, it intends to establish an innovation to recycle CO2 produced from blast furnaces by turning it into methane,
which can then be blown back into the heater as a decreasing product
It also plans to establish hydrogen-based ironmaking technology and get in supply chains of overseas wind power farms
Recycling CO2 might be a promising choice to assist cut CO2 emissions, with an advantage of having the ability to utilize our existing blast
heaters, Kakigi said, pointing out a plan to conduct a presentation test of the procedure by March 2028
When it comes to the steel company, JFE will shift its focus from amount to quality, Kakigi said, through improving the ratio of
value-added items to 50 per cent.Over the next 4 years, it will spend 1.2 trillion yen ($11 billion) in capital investment, with an
assumption of producing 26 million tonnes of crude steel in 2024, in line with 26.5 million tonnes forecasted for this year.For the current
year to March, JFE anticipated a net earnings of 130 billion yen after a loss of 21.87 billion a year previously.
