JFE said in a statement that it has signed a memorandum of understanding with JSW to conduct a feasibility study on the mill, which would produce grain-oriented electrical steel sheet. The study is to be completed by the end of fiscal 2021. 

“In view of the steadily increasing demand for electric power, the growing adoption of renewable energy and the electrification of automobiles, continued growth in global (markets), and India is forecasted for grain-oriented electrical steel sheet used in transformers,” the company said.