JSW Steel and JFE Steel JV to invest $663 M
JSW made the announcement on Tuesday.
Image for illustration purposes.
India, Bengaluru: JSW Steel and Japan’s JFE Steel will invest INR55 billion (around $663 million) in an Indian joint venture to produce grain-oriented electrical steel, which is a key component used in the manufacture of a variety of transformers.
The JV was signed in August 2023, and envisions the establishment of a manufacturing plant in the southern Indian state of Karnataka. Production is expected to start in fiscal 2027. JSW added that it plans to expand the capacity of the facility to meet the growing demand for grain-oriented electrical steel in India.
Source: Reuters
#grain oriented electrical steel#India#JFE Steel#joint venture#JSW Steel