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JSW Steel to Invest in Manufacture of Electric Steel
03/14/2012 - JSW Steel plans to set up an electrical steel manufacturing facility of 0.6 million tonnes per annum capacity at its integrated steel works at Vijayanagar.
JSW Steel is entering into the manufacture of electrical steel as part of its strategy to increase its portfolio of value-added products.
The company plans to set up an electrical steel manufacturing facility of 0.6 million tonnes per annum (MTPA) capacity at its integrated steel works at Vijayanagar. Initially, this facility will produce 0.4 to 0.5 MTPA of cold-rolled non-grain oriented (CRNO) grade electrical steel. The company also plans to produce cold-rolled grain oriented (CRGO) grade in the future.
The first phase of the facility is expected to produce 0.2 MTPA of CRNO and be commissioned in the next 24 months from the date of receiving requisite approvals.
JSW and JFE signed a strategic collaboration agreement in 2010 to collaborate in automotive steel manufacturing at Vijayanagar works, and now they intend to extend this collaboration to electrical steel.
The present demand for electrical steel in India is about 0.5 MTPA but is expected to double by 2016-17, the companies claim. The demand for CRGO-grade electrical steel is met purely by imports while CRNO grade is increasingly dependent on imports as availability from domestic sources remains consistently insufficient, according to JSW.
JSW expects to cater to the growth by scaling its manufacturing facilities.
JFE is one of the largest integrated steel producers in Japan with extensive experience and access to advanced technologies required for the production of high-quality steel products, energy management, and environmental management.
JSW Steel Ltd. belongs to JSW group, part of the O P Jindal Group, which has diversified interest in mining, carbon steel, power, industrial gases, port facilities, aluminum, cement, and information technology. JSW Steel is engaged in manufacture of flat and long products including hot-rolled coils, cold-rolled coils, galvanized products, galvalume products, auto grade/white goods grade steel, bars and rods.
