New decarbonization initiative in Asia

The collaboration, named the Consortium, includes steelmakers such as ArcelorMittal Nippon Steel India, JSW Steel, Hyundai Steel Company and other value chain players like BHP, Chevron, Mitsui & Co.

In a pre-feasibility study, the project aims to assess the development of Carbon Capture, Utilisation and Storage (CCUS) hubs across Asia.

The CCUS Hub study is the first independent industry-led study of its kind in Asia and will examine the technical and commercial pathways to utilising CCUS in hard-to-abate industries across Asia.

The study will focus on the potential to develop large-scale projects which can repurpose or store captured carbon dioxide.

The plan is for each participant in the study to be included in at least one hub, where the study will deliver conceptual development strategies including cost, schedule estimates and potential commercialisation pathways.

The study will also look at non-technical enablers required to make CCUS hubs a reality, for example, regulatory assessments including intra and inter-regional assessments of CCUS and cross border transport.

The Consortium are open to additional members joining the study; however, the initiative is expected to conclude at the end of 2026.

“It is this shared vision that has led to the formation of a robust consortium, which will enable all stakeholders to strategically undertake pioneering initiatives not only to decarbonise steelmaking but also set new benchmarks in industrial practices,” said Dr. Arvind Bodhankar, Chief Sustainability Officer at ArcelorMittal Nippon Steel India.

Findings will be shared publicly to promote broader industry learning and support the development of enabling policy and regulatory frameworks.

Next, the Consortium is prioritising the study of scalable utilisation and storage solutions to test for the broader adoption of decarbonization, especially in regions where regulatory hurdles and market maturity limit progress.

Yonghee Kim, Vice President of the Process R&D Sub-division at Hyundai Steel, added: “This consortium goes beyond conventional technological development – it aims to deliver real and measurable emissions reductions through collaboration with global partners, sharing knowledge and experience across borders.”