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

World Steel Association ('Worldsteel' or 'WSA') said it has elected Mr. Sajjan Jindal, Chairman and Managing Director of JSW Steel Ltd , as Chairman of Worldsteel for the 2021-22 period. Mr. Jindal is the first representative from India to serve as Chairman of the WSA. JSW Steel is engaged in the manufacturing of iron and steel products in India and across the globe.

Worldsteel acts as the focal point for the steel industry, providing global leadership on all major 0strategic issues impacting the industry, particularly focusing on economic, environmental and social sustainability. Worldsteel members represent approximately 85% 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, Belgium.

Sajjan Jindal, Chairman and Managing Director, JSW Steel said, "It is a privilege to serve as Chairman of the World Steel Association. The next few years look to be interesting for the global steel industry. Governments and policy makers have come to realize that in order to rebuild their economies, they need to increase their spending on infrastructure.

This global structural shift has provided the industry with numerous new opportunities to make steel in a more efficient manner. As we contribute to the progress of society, we also need to build a better and cleaner future by working towards decarbonizing steel production. We, as an industry, have a responsibility to shape the future in a meaningful and impactful manner."

JSW Group's flagship JSW Steel is India's leading and one of the world's most efficient integrated steelmakers. The company is executing expansion projects to reach a steelmaking capacity of 37.5 MTPA by FY2025, including 1.5 MTPA capacity in the USA and entities under joint control, from 18 MTPA as of FY2021.

JSW Steel 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. JSW Steel has issued the global steel industry's first Sustainability-Linked US Dollar bond in 2021, linked to its decarbonization target for 2030. The target set by JSW Steel is much steeper than those committed as per India's Paris Accord NDC's, and is aligned with the sustainable development scenario {SDS) pathway of the International Energy Agency.

Shares of JSW Steel Limited was last trading in BSE at Rs. 681.40 as compared to the previous close of Rs. 673.65. The total number of shares traded during the day was 186450 in over 3581 trades.

The stock hit an intraday high of Rs. 692.00 and intraday low of 671.40. The net turnover during the day was Rs. 127480530.00.

Source : Equity Bulls

Keywords

JSWSteel WorldSteelAssociation SajjanJindal INE019A01038 Chairman