JSW Steel Chairman and Managing Director Sajjan Jindal has been elected as the new chairman of the World Steel Association (WSA) for the period 2021-22. JSW Steel is one of India’s largest leading steel companies with clients all over the world.
Jindal would be the first-ever representative hailing from India to serve as the Chairman of the WSA.
Expressing opinions on the occasion, Jindal said, “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.
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.” He also expressed gratitude towards his predecessor Yu Yong and praised his work during his tenure.
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.
According to WSA’s official website, “WSA acts as the focal point for the steel industry, providing global leadership on all major strategic issues impacting the industry, particularly focusing on economic, environmental, and social sustainability.
Its members represent approximately 85 per cent 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 and headquartered in Brussels, WSA is one of the largest industry representations in the world.
JSW was established in 1982, and the “company primarily produces hot-rolled and cold-rolled coils. It provides colour-coated products, thermo-mechanically treated (TMT) bars, wire rods, and special alloy steel products. These products are used in automotive, general engineering, machinery, projects, and construction applications. These products serve the domestic market, and are exported to more than 100 countries,” as reported by IANA.
For the next phase of growth, JSW has planned a target of achieving 37.5 MTPA steel capacity by FY25.