JFE Steel and JSW Steel to jointly produce grain-oriented electrical steel

2023-08-03

Aug. 3, 2023 - JFE Steel Corporation (JFE Steel) and JSW Steel Limited (JSW Steel) have now signed the joint venture agreement (50:50) for establishment of a grain-oriented electrical steel sheet (GOES) manufacturing joint venture company (JV), JSW JFE Electrical Steel Private Limited.

By manufacturing high-grade GOES, the goal of this JV is to contribute to the rapidly growing Indian economy by supplying GOES for greener energy network enhancement projects along with excellent energy efficiency.

The total investment is planned to be USD670 million. As soon as regulatory approvals are obtained, we will establish the JV and start construction of the JV plant. We aim to begin full production of complete range of CRGO grades in fiscal 2027 with special focus on High Permeability grades. The JV may expand capacity in the future as the Indian GOES market grows.