JSW Steel and JFE Steel to Expand Grain-Oriented Electrical Steel Capacity to 350,000 TPA in India

JSW Steel and JFE Steel have announced plans to expand their Grain-Oriented Electrical Steel (CRGO) capacity in India. The expansion will be carried out in two phases: first, the existing CRGO facility in Nashik, Maharashtra will be expanded from 50,000 TPA to 250,000 TPA with an estimated cost of Rs 4,300 crore; second, the CRGO manufacturing facility at Vijayanagar, Karnataka will be enhanced from 62,000 tonnes to 100,000 tons per annum with an additional investment of Rs 1,545 crores. The total additional capital expenditure for both facilities stands at Rs 5,845 crores. The equity funding for the project is expected to be Rs 1,966 crores, to be funded equally by JSW Steel and JFE Steel Corporation. Post completion, the overall CRGO capacity will increase to 350,000 tons per annum, expected to be commissioned in phases from FY 2028. JSW Steel will invest up to Rs. 983 crores in the joint venture company J2ES for the purpose of equity funding required for the project expansion.