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New Indian Express
04-08-2025
- Business
- New Indian Express
JSW Steel in Rs 5,485-crore joint ventures with Japanese firm JFE Steel
MUMBAI: With the demand for specialised electrical steel rising, JSW Steel, which is the largest producer of hot-rolled metal, has further strengthened its existing relationship with the Japanese alloy major JFE Steel Corporation. The companies have announced two more joint ventures which together will invest Rs 5,485 crore to augment the specialised electrical steel capacity to 3.5 lakh tonnes across its Vijayanagar and Nashik facilities. The investment will be made through the joint ventures JSW JFE Electrical Steel in Vijayanagar in Karnataka, and JSW JFE Electrical Steel in Nashik in Maharashtra. While the Vijayanagar facility will get Rs 1,545 crore of additional investment from JSW, the JSW Steel-JFE Steel joint venture will invest Rs 4,300 crore in the Nashik facility to ramp up specialised grain-oriented electrical steel (GOES) capacity. Both the capacity augmentations will take its installed output by 3.5 lakh tonnes per annum, the Sajjan Jindal-led company said in a regulatory filing Monday. The move comes as the nation moves faster towards energy and mobility transition, both of which deploy grain-oriented electrical steel. 'The capacity addition will be for the grain-oriented electrical steel (GOES) through their joint ventures-- JSW JFE Electrical Steel at Vijayanagar in Karnataka, and JSW JFE Electrical Steel Nashik in Maharashtra. The JV partners will expand grain-oriented electrical steel capacity to 350,000 tonne per annum and will jointly invest around Rs 5,845 crore towards this expansion,' the statement added. GOES is an important material in the production of energy-efficient transformers and large, high-performance generators. "The national green energy transformation, decarbonisation and digital infrastructure development are triggering large demand for high-grade electrical steel. Our GOES investment is a critical step in enabling import substitution, supporting the nation's energy transition goals, and delivering high-efficiency electrical steel solutions to the domestic and global markets. This investment with our long-standing partner JFE Steel reaffirms our commitment to building strategic and future-ready steel capabilities that serve both national and global priorities," the company said in the statement. JSW-JFE Electrical Steel Nashik, formerly known as Thyssenkrupp Electrical Steel India, is one of the first manufacturers of cold-rolled grain-oriented electrical steel (CRGO) in the country with a capacity of 50,000 tonnes per annum located in Nashik.
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Business Standard
04-08-2025
- Business
- Business Standard
JSW Steel, JFE to invest ₹5,845 crore in expanding electrical steel output
JSW Steel, in collaboration with its Japanese partner JFE Steel Corporation, announced on Wednesday the expansion of manufacturing capacity for grain-oriented electrical steel (GOES) at a cost of Rs 5,845 crore. The investment will be made through joint ventures JSW JFE Electrical Steel Private Limited at Vijayanagar, Karnataka (J2ES), and JSW JFE Electrical Steel Nashik Private Limited, Maharashtra (J2ESN). JSW Steel said that this capital investment, along with previously announced investments at the Vijayanagar facility and the acquisition of the Nashik facility, would bring the overall investments to Rs 15,560 crore. In a statement, Jayant Acharya, Joint Managing Director & CEO of JSW Steel, said, "India's green energy transformation, decarbonization, and digital infrastructure development are triggering large demand for high-grade electrical steel. Our GOES investment is a critical step in enabling import substitution, supporting India's energy transition goals, and delivering high-efficiency electrical steel solutions to the domestic and global markets.' GOES is an important material in the production of energy-efficient transformers and large, high-performance generators. Acharya added, "This investment with our long-standing partner JFE Steel reaffirms our commitment to building strategic and future-ready steel capabilities that serve both national and global priorities.' J2ESN, formerly thyssenkrupp Electrical Steel India Private Limited, is one of the first manufacturers of Cold Rolled Grain-Oriented Electrical Steel (CRGO) in India with a capacity of 50,000 tons per annum (TPA) at Nashik, Maharashtra. Earlier this year, in a Rs 4,051 crore acquisition, JSW Steel and JFE completed the acquisition of thyssenkrupp Electrical Steel India Private Limited. On Wednesday, JSW Steel announced that, considering the increasing domestic demand for CRGO, the board of directors approved the expansion of the CRGO facility from 50,000 TPA to 250,000 TPA. The expansion is estimated to cost Rs 4,300 crore. J2ES, a 50:50 joint venture between JSW Steel Limited and JFE Steel Corporation, had planned to set up a 62,000-tonne CRGO manufacturing facility at Vijayanagar in Karnataka, with a planned investment of Rs 5,557 crore. This is being enhanced to 100,000 tonnes per annum with an additional investment of Rs 1,545 crore. The additional capital expenditure for capacity expansion at the Nashik and Vijayanagar facilities is estimated at Rs 5,845 crore. The equity funding for the project is expected to be Rs 1,966 crore, which will be funded equally by JSW Steel and JFE Steel Corporation. Upon completion of the capacity additions, the overall CRGO capacity will increase to 350,000 tonnes per annum. The project is expected to be commissioned in phases from FY2028. JSW Steel said that this expansion reinforces its commitment to building self-reliance in India's specialty steel sector and supporting national programs such as 'Make in India' and 'Atmanirbhar Bharat,' while also addressing the rapidly growing domestic demand for high-efficiency electrical steel, especially in renewable energy, energy transition for decarbonization, e-mobility, AI data centres, and more.
Business Standard
04-08-2025
- Business
- Business Standard
JSW Steel and JFE Steel Corporation to jointly invest Rs 5,845 cr for capacity expansion
JSW Steel in strategic collaboration with its Japanese partner JFE Steel Corporation, today announced a significant expansion of manufacturing capacity for grain-oriented electrical steel (GOES) through their joint ventures - JSW JFE Electrical Steel at Vijayanagar, Karnataka, and JSW JFE Electrical Steel Nashik, Maharashtra. The two partners will jointly invest approximately Rs 5,845 crore towards this expansion. Key Highlights of the Expansion Plan: Vijayanagar Plant (Karnataka): Capacity to be increased to 100,000 tons per annum from the earlier plan of 62,000 tons per annum. Scheduled for commissioning by FY2028. Nashik Plant (Maharashtra): Production capacity to expand five-fold to 250,000 tons per annum for phased commissioning from FY2028. Strategic Outcome: Strengthens JSW JFE's position as India's leading integrated GOES producer This capital investment along with the previously announced investments at Vijayanagar facility and the acquisition of the Nashik facility would take the overall investments to Rs 15,560 crore.
Business Upturn
04-08-2025
- Business
- Business Upturn
JSW Steel and JFE to invest Rs 5,845 crore in expanding electrical steel capacity in India
By Aman Shukla Published on August 4, 2025, 10:35 IST JSW Steel Limited, in collaboration with its long-term Japanese partner JFE Steel Corporation, has announced a major investment to boost manufacturing capacity for grain-oriented electrical steel (GOES) in India. Through their joint ventures—JSW JFE Electrical Steel Private Limited (Vijayanagar, Karnataka) and JSW JFE Electrical Steel Nashik Private Limited (Maharashtra)—the two companies will invest approximately ₹5,845 crore in expanding production. This strategic move aims to support India's growing demand for high-efficiency electrical steel used in critical sectors such as renewable energy, electric vehicles (EVs), AI data centers, and the broader energy transition for decarbonization. Key Expansion Details: Vijayanagar Plant (Karnataka) : Planned capacity raised from 62,000 TPA to 100,000 TPA. The upgraded facility is set for commissioning by FY2028. Nashik Plant (Maharashtra) : Capacity to increase five-fold, reaching 250,000 TPA, with phased commissioning also expected from FY2028. Strategic Positioning: The expansion strengthens JSW JFE's leadership in India's integrated GOES production landscape. With this new investment, the total capital outlay across both facilities now stands at ₹15,560 crore, including previous commitments and acquisitions. The project aligns with India's 'Make in India' and 'Atmanirbhar Bharat' initiatives, reinforcing JSW Steel's commitment to developing self-reliant, high-tech steel infrastructure domestically. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
