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.