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JSW-JFE JV Invests ₹5,500 Cr in Bellary for Electrical Steel Facility

JSW Steel and JFE Steel Corporation’s joint venture, JSW JFE Electrical Steel, is set to establish a facility in Bellary, Karnataka, with a planned investment of ₹5,500 crores. The production is slated to commence in 2026-27 (Apr-Mar).

This collaboration aims to be the first in India with end-to-end manufacturing of grain-oriented electrical steel products, specifically used in energy-efficient transformers. JSW Steel stated that the JV Company aspires to cater to the surging domestic demand for Grain Oriented Electrical Steel and contribute significantly to the country’s energy infrastructure.

The groundbreaking ceremony for the plant took place on Monday. In 2023, JSW Steel and JFE signed a joint venture agreement, following a Memorandum of Understanding in 2021 to explore the feasibility of manufacturing and selling cold-rolled grain-oriented electrical sheets.

JSW Steel, India’s largest steel producer, plans to reach a capacity of 38.5 million tonnes by the next financial year, having spent ₹12,898 crores on capital expenditure in 2023-24 (Apr-Mar).

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