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JSW Steel Limited announced a joint venture (JV) with JFE Steel Corporation, Japan, for the production of grain-oriented electrical steel in India. The newly formed entity, JSW Electrical Steel Private Limited, which will later be renamed JSW JFE Electrical Steel Private Limited, will establish its manufacturing base in Bellary, Karnataka, with a planned investment of ₹5,500 crore.
The facility aims to commence production in fiscal year 2027 and plans capacity expansion to meet the demand for grain-oriented electrical steel in India.
The company stated that it would be the first entity to undertake end-to-end manufacturing of grain-oriented electrical steel products in India.
However the shares were down by 0.22 per cent to ₹808.65 on the BSE.
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