3 Aug 2023 , 10:38 AM
JSW Steel and JFE Steel Corporation of Japan collaborate to set up a joint venture (JV) company in India for manufacturing CRGO steel. JFE Steel Corporation is already a 15% shareholder in JSW Steel.
The joint venture agreement was signed on August 2, 2023, with the aim of manufacturing and selling CRGO using advanced machinery and JFE Steel’s energy-efficient production technology.
In May 2023, JSW Steel and JFE completed a joint feasibility study and agreed to form a 50:50 joint venture for producing cold rolled grain-oriented electrical steel products (CRGO) in India.
CRGO steel is a vital input for transformer manufacturing, which is crucial for electricity generation, transmission, and distribution to end-users.
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