Team Blitz India
NEW DELHI: JSW Steel will be setting up a 50:50 joint venture with Japan-based JFE Steel Corporation and will be investing Rs 5,500 crore to set up a plant in Karnataka, the company said in a stock exchange filing on February 13.
The new company will be named JSW JFE Electrical Steel Private Limited and will have its manufacturing base in Bellary, Karnataka. Production is likely to commence in FY27, the company said. It may further expand the capacity to meet growing demand for grain-oriented electrical steel in India.
“This collaboration is a milestone development, as it would be the first company to have end-toend manufacturing of Grain Oriented Electrical Steel products in India. The JV Company aspires to cater to the surging domestic demand for Grain Oriented Electrical Steel and contribute significantly to the country’s energy infrastructure,” JSW Steel said in a statement.
Grain-oriented electrical steel is an essential core material for distribution transformers, power transformers, and small transformers.
