Sajjan Jindal, Chairman and Managing Director of JSW Steel NSE 3.31 % Ltd, one of India’s largest steel companies, was elected as the new chairman of the World Steel Association for 2021-2022.
”The next few years look to be interesting for the global steel industry…Governments and policymakers have come to realize that in order to rebuild their economies, they need to increase their spending on infrastructure.,” Jindal said.
Jindal is the first representative from India to serve as Chairman of the WSA, the company said in a press release.
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.
Yu Yong, chairman of BHIS Group Ltd was heading as the chairman of Worldsteel for the last two years and he is now appointed as the vice-chairman.
Jindal addressed the Board of Members of the World Steel Association, thanking Dr Yu Yong for his capable chairmanship over the last two years, and welcoming addressing the challenges for the global industry going forward, particularly with respect to climate change.
“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,” Jindal said. JSW Steel is the flagship business of the diversified US$ 13 billion JSW Group joint control & a new capacity to be commissioned at Dolvi during this year.
Its roadmap for the next phase of growth includes a target of achieving 37.5 MTPA steel capacity by FY25.
Source : Economic Times