Partnership13 Feb 2024, 04:20 pm
JSW Steel Limited Announces JV with JFE Steel Corporation for Grain Oriented Electrical Steel Production in India
AI Summary
JSW Steel Limited has announced a 50:50 joint venture with JFE Steel Corporation, Japan to produce Grain Oriented Electrical Steel in India. The new company will have a planned investment of Rs 5,500/- crores and will be set up in District Bellary, Karnataka. The facility is expected to commence production in fiscal year 2027 and will cater to the growing demand for grain-oriented electrical steel in India.,
Key Highlights
- 50:50 JV with JFE Steel Corporation
- Grain Oriented Electrical Steel production in India
- Planned investment of Rs 5,500/- crores
- Commencement of production in fiscal year 2027
- Contribution to the country's energy infrastructure