Japan's JFE Steel aims to decide this year on a joint venture in India with partner JSW Steel to produce electrical steel sheet used in power plant transformers, JFE Holdings President Koji Kakigi said on Thursday. Japan's second-biggest steelmaker, which is under JFE Holdings, aims to tap growth in the Indian market by offering advanced steel products to boost efficiency in power generation, Kakigi told reporters. "We are thinking of developing a business in the higher-end field, using our technology, to create demand for a grain oriented electrical steel sheet together with JSW," Kakigi said.
Japan's JFE Steel plans to spend 1 trillion yen ($7.2 billion) on low-carbon technology over the next eight years to achieve its 2030 goal to cut carbon dioxide (CO2) emissions, its president Yoshihisa Kitano said on Thursday, but said government help was needed. As steelmakers around the world face pressure to cut emissions to tackle climate change, JFE has set itself a goal to reduce its C02 in 2030 by 30% versus 2013 levels. That compares with Japan's overall 2030 target to cut CO2 emissions by 46% from 2013.
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