JSW Steel and JFE Steel Corporation’s joint venture, JSW JFE Electrical Steel, is set to establish its facility in Bellary, Karnataka, with a planned investment of INR 5,500 crore. The venture aims to commence production in the financial year 2026-27 and will focus on manufacturing grain-oriented electrical steel, essential for energy-efficient transformers. This initiative marks a significant milestone as the company will be the first in India to have comprehensive end-to-end manufacturing capabilities for these products.
JSW Steel stated, “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.
The collaboration between JSW Steel and JFE began in 2023 when they entered into a joint venture agreement for the manufacturing and sales of cold-rolled grain-oriented electrical sheets. This collaboration stemmed from a Memorandum of Understanding signed in 2021, which initiated a feasibility study for the production and sales of these specialized sheets.
As the flagship company of the JSW group, JSW Steel currently holds the position of the largest steel producer in India. With an ambitious target, the company aims to achieve a capacity of 38.5 million tonnes by the next financial year. In the ongoing financial year 2023-24 (Apr-Mar), JSW Steel has already invested INR 12,898 crore in capital expenditure.
