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JSW Steel forms 50:50 JV with JFE Steel for grain oriented electrical steel

Tuesday, 13 Feb 2024
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JSW Steel has established a 50:50 joint venture (JV) with Japan-based JFE Steel Corporation for the production of grain oriented electrical steel in India.

The new JV company,  which is to be renamed as JSW JFE Electrical Steel, will have its manufacturing base in Bellary district of Karnataka and will be set up with a planned investment of Rs 5,500 crore. A groundbreaking ceremony marking the initiation of this significant partnership was held on 12 February, 2024.

The facility is targeting to commence production in the financial year 2027 and plans to further expand its capacity to meet the growing market demand for grain-oriented electrical steel in the country. The new company will cater to the surging domestic demand for this electrical steel and contribute significantly to the country’s energy infrastructure.

Grain-oriented electrical steel plays a pivotal role in the production of energy-efficient transformers. Whether in laminated, wound, or punched sheet form, it serves as the essential core material for distribution transformers, power transformers, and small transformers.

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