JSW Steel, JFE To Invest ₹58.45 Billion To Expand Grain-Oriented Steel Capacity

JSW Steel Ltd on Monday said it will invest ₹58.45 billion, along with Japanese partner JFE Steel Corp, to expand manufacturing capacity for grain-oriented electrical steel at facilities in Karnataka and Maharashtra.

The two firms, through their joint ventures JSM JFE Electrical Steel Pvt Ltd and JSM JFE Electrical Steel Nashik Pvt Ltd, will scale up capacity at Vijayanagar and Nashik units.

The board cleared a plan to expand cold-rolled grain-oriented steel capacity to 250,000 tonnes per annum from 50,000 tonnes. This phase alone is estimated to cost ₹43 billion.

Separately, JSW JFE Electrical Steel had already planned to set up a 62,000-tonne facility at Vijayanagar for ₹55.57 billion. This will now be enhanced to 100,000 tonnes, with an additional ₹15.45 billion investment.

The combined expansions are expected to be completed by 2027-28 , JSW Steel said in a filing.