Mumbai, 13 February 2024: JSW Steel Limited has announced a groundbreaking joint venture (JV) with JFE Steel Corporation, Japan, marking a significant partnership for the production of Grain Oriented Electrical Steel in India. The 50:50 venture will establish JSW JFE Electrical Steel Private Limited, with its manufacturing base in District Bellary, Karnataka, and a planned investment of Rs 5,500 crores. The facility aims to commence production in the fiscal year 2027 and expand capacity to meet India’s growing demand for grain-oriented electrical steel, a key component in energy-efficient transformers.
This collaboration is groundbreaking as it would be the first company to offer end-to-end manufacturing of Grain Oriented Electrical Steel products in India. The JV aspires to serve the surging domestic demand and bolster the country’s energy infrastructure. Grain-oriented electrical steel is essential for distribution transformers, power transformers, and small transformers, contributing to energy efficiency.
Leadership teams from both companies, including Mr. Kitano, President & CEO of JFE Steel, Mr. Ogawa, Executive Vice President of JFE Steel, Mr. Sajjan Jindal, Chairman & Managing Director of JSW Steel, and Mr. Jayant Acharya, Joint Managing Director & CEO of JSW Steel, attended the groundbreaking ceremony on 12th February 2024.
About JSW Steel Limited
JSW Steel Limited is a leading integrated steel producer with a strong presence in India and international markets. Committed to quality and innovation, JSW Steel drives excellence in the steel industry. Visit JSW Steel for more information.
About JFE Steel Corporation
JFE Steel Corporation is a global steel company committed to technological innovation and sustainable practices. Learn more at JFE Steel.
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