JFE Steel Corporation (JFE Steel) and JSW Steel Limited (JSW Steel) have established JSW JFE Electrical Steel Private Limited (a subject to statutory approvals), a joint venture company for grain-oriented electrical steel in India and held a groundbreaking ceremony on February 12 at the site where the new facility will be constructed at Bellary in Karnataka, India.

Mr. Kitano, JFE Steel President & CEO; Mr. Ogawa, JFE Steel Executive Vice President; Mr. Jindal, JSW Steel Chairman & Managing Director; and Mr. Acharya, JSW Steel Joint Managing Director & CEO, along with other senior executives from both companies, attended the ceremony.

We aim to start full production in fiscal 2027, and to expand production in line with the growing market for grain-oriented electrical steel in India.

About this JV:

Location	Bellary district, Karnataka state, India
Products	Grain-oriented electrical steel sheet (GOES)
Production grades	Conventional grades and High Permeability grades
Investment ratio	JFE Steel 50% : JSW Steel 50%
Start of production	Full operation from 2027 (planned)
Total investment	$670 million

About JFE Steel Corporation

JFE Steel Corporation, one of the world’s leading integrated steel producers, was established through the consolidation of NKK Corporation and Kawasaki Steel Corporation in 2003. The company operates several steelworks in Japan and numerous branch offices and affiliates throughout the world. JFE Steel leverages world-class technologies and know-how to produce a wide range of products based on its “Only One, Number One” strategy of focusing on unique and best-in-class products. The company reported consolidated sales of 2,255 billion yen and consolidated crude steel output of 23.96 million tons in the fiscal year ended March 2021.

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