Saturday, Dec 14 2024 | Time 13:20 Hrs(IST)
image
Business EconomyPosted at: Feb 13 2024 12:56PM


JSW Steel announces 50:50 JV with JFE Steel Corporation Japan

Mumbai, Feb 13 (UNI) JSW Steel announced the establishment of a 50:50 JV with JFE Steel Corporation, Japan, for the production of grain-oriented electrical steel in India.
The new company, JSW Electrical Steel Private Limited, to be renamed JSW JFE Electrical Steel Private Limited, will have its manufacturing base in District Bellary, Karnataka, and will be set up with a planned investment of Rs 5500 crore.
A groundbreaking ceremony marking the initiation of this significant partnership was held on February 12, 2024. The facility is targeting production in the fiscal year 2027 and plans to further expand its capacity to meet the growing market demand for grain-oriented electrical steel in India.
This collaboration is a milestone development, as it would be the first company to have end-to-end manufacturing of grain-oriented electrical steel products in India. 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.
Grain-oriented electrical steel plays a pivotal role in the production of energy-efficient transformers. Whether in laminated, wound, or punched sheet form, it serves as the essential core material for distribution transformers, power transformers, and small transformers.
UNI JS SY ARN
Please log in to get detailed story.
Tags: #JSW Steel announces 50:50 JV with JFE Steel Corporation Japan
More News
YES BANK launches YES Business

YES BANK launches YES Business

13 Dec 2024 | 8:02 PM

Kolkata, Dec 13 (UNI) YES BANK has announced the launch of YES Business, an initiative to sharpen its focus on the business segment and address their needs.

see more..

Amazon will return more water to communities in India than it uses by 2027

13 Dec 2024 | 7:54 PM

Kolkata, Dec 13 (UNI) Amazon on Friday announced it has set a goal to return more water to communities in India than it uses in its direct operations by 2027.

see more..

Vedanta Aluminium saves 1 3 Million GJ of Energy

13 Dec 2024 | 7:35 PM

Bhubaneswar, Dec 13 (UNI) Vedanta Aluminium on Friday announced a significant achievement of saving 1.3 million GigaJoules (GJ) of energy through innovative measures designed to enhance energy efficiency and reduce greenhouse gas (GHG) emissions.

see more..

RSP registers best single day Plate Rolling Record since inception

13 Dec 2024 | 5:58 PM

Bhubaneswar, Dec 13 (UNI) The New Plate Mill (NPM) of Rourkela Steel Plant (RSP) has registered a new benchmark by achieving the best single day plate rolling of 5050 tons of plates on December 11.

see more..
Sensex zooms 843 16 pts

Sensex zooms 843 16 pts

13 Dec 2024 | 5:16 PM

Mumbai, Dec 13 (UNI) Erasing losses, the BSE Sensex on Friday zoomed 843.16 pts to close high at 82,133.12 following gains in IT stocks, anticipating US rate cut.

see more..
image