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JFE Steel Corporation

About the basic agreement to establish a joint venture company in India
to manufacture grain-oriented electrical steel with JSW Steel Limited

JFE Steel Corporation (JFE Steel) and JSW Steel Limited (JSW Steel), after conducting a feasibility study, have reached a basic agreement to establish a grain-oriented electrical steel sheet (GOES) manufacturing joint venture company (JV) in India.

This JV will be the first company in India to produce GOES with the entire manufacturing processes undertaken within India. The upstream substrate (hot-rolled steel sheet), which is the raw material for GOES to be made at the JV, will be produced at JSW Steel’s Vijayanagar facility.

By manufacturing high-grade GOES with excellent energy efficiency, established after many years of R & D at JFE Steel, the goal of this JV is to contribute to the rapidly growing Indian economy by supplying GOES for greener energy network enhancement projects.

JFE Steel and JSW Steel will proceed toward a definitive agreement and obtain necessary regulatory approvals. As soon as obtaining of regulatory approvals, we will establish the JV and start construction of the JV plant. The JV may expand capacity in the future as the Indian GOES market grows.

Global demand for high-grade electrical steel sheets is expected to continue to increase with the electrification of automobiles, the desire for more efficient energy use, and expanded utilization of renewable energy. Going forward, we will continue to contribute to the realization of a more sustainable society by strengthening our operations in Japan and overseas; further improving our world-class production capabilities; and expanding the supply of eco-products that contribute to the reduction of CO2 emissions.


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.


About this JV:

Location Bellary district, Karnataka, India
Products Grain-oriented electrical steel sheet (GOES)
Investment ratio JFE Steel 50% : JSW Steel 50%
Start of production full operation from 2027 (Plan)
Vijayanagar facility (JSW Steel Limited)

Vijayanagar facility (JSW Steel Limited)


Overview of JSW Steel Limited

Head office: Mumbai, India
Established: 1994
Capitalization: Rs 300 Crore
Chairman and Managing Director: Sajjan Jindal
Crude steel production (tons): 24.15 million (FY2022-23)
Main businesses: Manufacture and sale of steel products (ordinary steel and special steel)


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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