JSW, JFE Cement Grain-Oriented Electrical Steel Joint Venture
02/14/2024 - India’s JSW Steel and Japan’s JFE Steel have broken ground on a joint-venture electrical steel plant in India, the equivalent of a US$670 million investment that will bring about India’s first end-to-end manufacturer of grain-oriented electrical steel.
A 50-50 joint venture, the new company is called JSW JFE Electrical Steel Private Ltd. The company will build its first plant in Karnataka, India, and plans to enter production in fiscal 2027.
“The joint-venture company aspires to cater to the surging domestic demand for grain-oriented electrical steel and contribute significantly to the country's energy infrastructure,” JSW Steel said in a statement.
