JFE makes electrical steel in India
Japan, Tokyo: JFE will produce electrical steel in India that will be used for power infrastructure.
JFE Steel will establish a joint venture in India to produce a material used in electrical power infrastructure, in order to utilize the growth of the most populous country in the world.
Production equipment for grain-oriented electrical steel sheet will be installed at a steelworks of JFE affiliate JSW Steel, with full operations to start by fiscal year of 2027.
This marks the first time that JFE will produce electrical steel sheets outside Japan.
JFE Steel and JSW Steel will establish a 50-50 joint venture for the local electrical steel business. The investment amount and scale of production were not disclosed.
The two companies have been testing feasibility since 2021. It is expected that India will need a larger power infrastructure due to the growth of its population, leading to high medium- to long-term demand for electrical steel sheet, which is used in transformers and other equipment.
Source: Nikkei Asia