JSW Steel, Bharatia, and Carbon Iceland International have signed a strategic Memorandum of Understanding (MoU) to jointly explore a large-scale green methanol project in India.
The agreement was signed in Oslo, Norway, during the 3rd India–Nordic Summit.
The proposed project aims to produce around 300 KTPA (kilo tonnes per annum) of green methanol, also known as eMethanol.
The project plans to use:
The captured CO₂ and green hydrogen will be converted into low-carbon methanol fuel.
The partnership aims to support industrial decarbonisation and create cleaner fuel alternatives for hard-to-abate sectors.
The companies said the project could become a scalable model for:
The initiative also aligns with India’s long-term energy transition and climate goals.
The MoU signing was witnessed by:
Senior officials from all participating organisations were also present during the signing ceremony.
Under the partnership:
The companies said the project will follow a phased development approach.
The initial stage will include:
Future phases may involve full-scale commercial implementation.
The companies believe the partnership can help position India as a major hub for climate technology and low-carbon industrial infrastructure.
The project is also expected to support cleaner fuel demand in sectors such as:
JSW Steel is the flagship company of the JSW Group and one of India’s leading integrated steel producers.
The company currently has a combined crude steel capacity of 37.9 million tonnes per annum and plans to expand capacity to 54.8 MTPA over the next four years.
Its Vijayanagar plant in Karnataka is India’s largest single-location steel manufacturing facility.
JSW Steel share price (NSE: JSWSTEEL)ended marginally higher on Monday. The stock gained 0.28% to close at ₹1,289.10 on the NSE. During the trading session, it opened at ₹1,290.70 and touched an intraday high of ₹1,297.40, while the day’s low stood at ₹1,284. The company’s market capitalisation was around ₹3.21 lakh crore. JSW Steel has a price-to-earnings (P/E) ratio of 14.13 and offers a dividend yield of 0.55%. The stock has touched a 52-week high of ₹1,314 and a 52-week low of ₹962.15.
The partnership between JSW Steel, Bharatia, and Carbon Iceland marks an important step towards cleaner industrial production in India. The proposed green methanol project highlights growing global cooperation in carbon reduction, sustainable fuels, and climate-focused industrial development.
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Published on: May 25, 2026, 3:06 PM IST
Kusum Kumari
Kusum Kumari is a Content Writer with 4 years of experience in simplifying financial market concepts. Currently crafting insightful content at Angel One, She specialise in breaking down complex topics into easy-to-understand pieces, blending expertise in market fundamentals and technical analysis.
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