IIT Bombay and JSW Group have entered into an exclusive agreement to establish a first-of-its-kind JSW Technology Hub in India for steel manufacturing. JSW Steel, a leading steel company, is a part of the Group.
IIT Bombay, has created The Centre of Excellence in Steel Technology (CoEST) with support from the Ministry of Steel, Government of India, and other industry partners. The JSW Technology Hub will be established within the CoEST with the key objective of achieving a rapid expansion of quality steel production while maintaining carbon emissions within the target levels, the JSW Group said in a statement.
“The partnership with IIT Bombay will also allow JSW Group to undertake and intensify R&D efforts in the steel sector to develop competent capabilities in the area of steel technology for the Indian conglomerate. The JSW Technology Hub will also be the nodal point for JSW Group’s research activities beyond the steel domain,” the company added in the statement.
Sangita Jindal, chairperson of JSW Foundation, said, “This powerful combination will jointly leverage IIT Bombay’s knowledge-rich faculties and JSW’s technical capabilities to develop novel industrial applications for steel manufacturing with focus on low carbon emissions.”
Seshagiri Rao, Joint MD, JSW Steel, and Group CFO, said, “JSW Group’s strategic partnership with IIT Bombay is a progressive step on our ongoing journey to be future-ready and equip ourselves to continue delivering sustained value to all our stakeholders.”
Prof. Subhasis Chaudhuri, Director, IIT Bombay, said, “Our CoEST has a vision to facilitate the Indian steel sector to become a world leader. This agreement will help to further strengthen our efforts in this direction. Through this partnership, we would like to achieve rapid scale-up of quality steel production while enabling India to meet its sustainability goals by keeping carbon emissions within targeted levels.”
