JFE Steel Corporation (JFE Steel) and JSW Steel Limited (JSW Steel) have now signed the joint venture agreement 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.

(left) Gajraj Singh Rathore, Chief Operating Officer and Whole-Time Director, JSW
(Right) Hiroyuki Ogawa, Executive Vice President, JFE Steel

About this JV:

Company Name	JSW JFE Electrical Steel Private Limited
Location	Bellary district, Karnataka state, India
Products	Grain-oriented electrical steel sheet (GOES)
Investment ratio	JFE Steel 50% : JSW Steel 50%
Total investment	$670 million
Start of production	Full operation from 2027 (planned)

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.

# # #