In a significant development, JSW Steel and JFE Steel have come together to establish a pioneering joint venture company for the production of Cold Rolled Grain Oriented Electrical Steel in India.
The completion of a comprehensive feasibility study has paved the way for this groundbreaking collaboration, with both companies reaching an agreement in principle for 50:50 joint venture.
The proposed facility, located in Vijayanagar, Karnataka, will encompass the entire range of CRGO manufacturing processes, making it the first of its kind in the country.
The joint venture aims to meet the surging demand for CRGO products in India by leveraging JFE Steel's energy-efficient production technology, developed through extensive research and development.
The finalization of the joint venture is subject to the execution of definitive agreements and obtaining necessary regulatory approvals.
Source: SteelGuru
|
