JSW Steel and Japan’s JFE ink pact for manufacturing of electrical steel in India

23 May 2023 , 10:07 AM

JSW Steel and JFE Steel have entered into a collaborative agreement to establish a joint venture (JV) company dedicated to producing a comprehensive range of cold rolled grain-oriented electrical steel (CRGO) products.

The manufacturing facility will be situated in Vijaynagar, Karnataka. Earlier in 2021, JSW Steel and JFE Steel previously signed a memorandum of understanding (MoU) to conduct a joint feasibility study for the purpose of establishing a CRGO manufacturing JV in India.

This joint venture will be the pioneering entity in India to undertake the complete manufacturing process of CRGO products. With a keen focus on meeting the surging domestic demand for CRGO, the JV aspires to contribute significantly to this rapidly expanding sector.

The establishment of the joint venture will be dependent on the completion of formal agreements and obtaining the required approvals from regulatory authorities.

JSW Steel and JFE Steel are continuously strengthening their partnership since they signed a comprehensive strategic collaboration agreement in 2009. This was further enhanced by JFE Steel’s investment in the equity of JSW Steel.

CRGO possesses outstanding magnetic properties in a specific direction (rolling direction), making it the perfect choice for the iron cores used in power transformers.

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