JFE Steel Corporation
JFE Steel & JSW Steel proposes Grain Oriented Steel Sheet
Manufacturing JV in India
JFE Steel Corporation today announced that it has signed a Memorandum of Understanding to conduct a Feasibility Study with JSW Steel Limited ( JSW ) , a Strategic Alliance Partner, to establish a Grain Oriented Electrical Steel Sheet Manufacturing & Sales Joint-Venture Company in India. The plan is to complete the study within the current 2021 fiscal year and take appropriate steps to set up the Company subject to requisite approvals.
JFE Steel is actively seeking to expand its global supply capacity through direct participation in overseas growth markets in alliance with outstanding local partners. The Company has continued to deepen its alliance with JSW since they signed a comprehensive Strategic Collaboration Agreement in 2009, under which JFE Steel has taken an equity stake in JSW and is providing Technical Co-operation with regard to Automotive Steel Products and Environmental measures. In the year 2012, JFE and JSW entered into an Agreement where JFE has provided technology for the production of non-oriented electrical steel sheets, which has enabled JSW to become India’s leading supplier in this field.
In view of the steadily increasing demand for electric power, the growing adoption of renewable energy and the electrification of automobiles, continued growth in Global and India is forecasted for grain-oriented electrical steel sheet used in transformers.
Going forward, JFE Steel will continue to strengthen its strategic alliances with Partners in overseas growth markets as well as expand its supply of advanced steel products that lead to reduced CO2 emissions and a more sustainable world.
About Electrical Steel Sheet:
Electrical steel sheet products, which contain additives such as silicon and aluminum, offer excellent magnetic properties including high magnetic flux density and low iron loss. Grain-oriented electrical steel sheet exhibits superb magnetic properties in a single (rolling) direction, making it ideal for the iron cores of power transformers, etc. Non-oriented electrical steel sheet, which exhibits excellent magnetic properties that are largely uniform in all directions, has applications such as the iron cores of motors.
(left) Hiroyuki Ogawa, Executive Vice President, JFE Steel
(right) Jayant Acharya, Director(Commercial & Marketing), JSW
Overview of JSW Steel Limited
Head office: Mumbai, India
Capitalization: Rs 300 Crore
Managing Director: Sajjan Jindal
Crude steel production (tons): 16.26 million (2019)
Main businesses: Manufacture and sale of steel products (ordinary steel and special steel)
JSW Steel Ltd. is the flagship company of the JSW Group which has diversified interests in core industries that support India’s infrastructure growth. From a single manufacturing unit in the early 1980s, JSW Steel Ltd, today, is one of the leading integrated steel companies in India with an installed capacity of 18 MTPA and has plans to scale it up in India to 45 MTPA within the next decade. JSW Steel’s manufacturing facility at Vijayanagar, Karnataka is the largest single location steel-producing facility in India with a capacity of 12 MTPA.
The Company has been at the forefront of state-of-the-art, cutting-edge technology, research and innovation while laying the foundation for long term growth Strategic collaborations with global technology leaders to offer high-value special steel products for various applications across construction, infrastructure, automobile, and other sectors.
JSW Steel is the only Indian company ranked among the top 10 steel-producers in the world by World Steel Dynamics for the last 10 consecutive years. JSW Steel Ltd. has been widely recognised for its business and operational excellence. Key honours & awards include Deming Prize for Total Quality Management at Vijayanagar and Salem, DSI RobecoSAM Sustainability Industry Mover Award among others.
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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