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SAIL partners with John Cockerill for green steelmaking technologies
Industry News- Dec 02,24
This partnership comes as SAIL continues to navigate market challenges, reporting a 31% decline in consolidated net profit to Rs 8.97 billion in the September quarter, attributed to lower income and subdued demand.
State-owned Steel Authority of India Ltd (SAIL) has entered into a strategic partnership with John Cockerill India Ltd (JCIL), the Indian subsidiary of John Cockerill Group, to integrate green technologies into its iron and steelmaking processes. This collaboration underscores SAIL’s commitment to transforming traditional practices through advanced and sustainable methods.
The Memorandum of Understanding (MoU) focuses on adopting innovative technologies for cold rolling and processing carbon steel, as well as the production of green steel and specialised silicon steels like CRGO (cold rolled grain-oriented) and CRNO (cold rolled non-oriented) variants. SAIL aims to enhance efficiency and sustainability in steelmaking to meet evolving market demands and contribute to a greener future.
This partnership comes as SAIL continues to navigate market challenges, reporting a 31% decline in consolidated net profit to Rs 8.97 billion in the September quarter, attributed to lower income and subdued demand. Despite these hurdles, the maharatna company remains steadfast in aligning its operations with global sustainability goals.
(cnbctv18)
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