JSW Steel Limited is a number one built-in steel producer with a presence in India and worldwide markets. File
| Photo Credit: Reuters
JSW Steel on Tuesday introduced plans to set up a grain oriented electrical steel manufacturing facility by way of a three way partnership with JFE Steel Corporation at an estimated investment of ₹5,500 crore.
Japan-bases JFE Corporation additionally holds a 15% share in JSW Steel.
A groundbreaking ceremony marking the initiation of this partnership was held on February 12, JSW Steel stated in an announcement.
JSW Steel Limited introduced the institution of a 50:50 JV with JFE Steel Corporation, Japan for the manufacturing of Grain Oriented Electrical Steel in India.
“The new company, JSW Electrical Steel Private Limited, to be renamed JSW JFE Electrical Steel Private Limited will have its manufacturing base in district Bellary, Karnataka and will be set up with a planned investment of Rs 5,500 crores,” the assertion stated.
The facility is concentrating on to begin manufacturing in the fiscal 12 months 2027 and the corporate plans to additional broaden its capability to meet the rising market demand for grain-oriented electrical steel in India.
The JV firm aspires to cater to the surging home demand for grain oriented electrical steel and contribute considerably to the nation’s power infrastructure, it stated.
Grain-oriented electrical steel performs a pivotal position in the manufacturing 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,” JSW Steel stated.
JSW Steel Limited is a number one built-in steel producer with a presence in India and worldwide markets.
JFE Steel Corporation is a world agency with a powerful dedication to technological innovation and sustainable practices.
