JSW Steel Limited has formed a 50:50 joint venture (JV) with JFE Steel Corporation of Japan to produce electrical steel in India. The newly created company, JSW Electrical Steel Private Limited (to be renamed JSW JFE Electrical Steel Private Limited), will invest INR 5,500 crore for manufacturing grain-oriented electrical steel products in Karnataka. The joint venture aims to cater to the growing domestic demand for energy-efficient transformers. The facility is scheduled to begin production in the fiscal year 2027, with JSW Steel planning further capacity expansion to meet market demand.
JSW Steel and JFE Steel Establish 50:50 Joint Venture for Electrical Steel Production in India
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