JSW Steel, Japan's JFE to invest ₹5,845 crore to boost cold rolled grain-oriented electrical steel output

JSW Steel Limited and Japanese partner JFE Steel Corporation announced a major expansion of grain-oriented electrical steel (GOES) manufacturing capacity in India, investing ₹5,845 crore to reach 3,50,000 tonnes per annum production by FY2028.

The expansion involves two facilities under their joint ventures. The Vijayanagar plant in Karnataka will increase capacity to 100,000 tonnes per annum from an earlier planned 62,000 tonnes, while the Nashik facility in Maharashtra will expand five-fold to 250,000 tonnes per annum. Both plants are scheduled for commissioning by FY2028.

This investment, combined with previously announced investments at Vijayanagar and the Nashik facility acquisition, brings total investments to ₹15,560 crore. The expansion aims to create India’s largest integrated GOES electrical steel production base.

The move targets surging domestic demand for high-efficiency electrical steel driven by renewable energy projects, energy transition initiatives, electric mobility, and AI data centres. JSW Steel’s Joint Managing Director & CEO Jayant Acharya emphasised the investment’s role in import substitution and supporting India’s energy transition goals.

JSW Steel, part of the $23 billion JSW Group, operates India’s leading integrated steel manufacturing with 35.7 million tonnes per annum (mtpa) consolidated capacity. JFE Steel Corporation, formed in 2003, reported consolidated sales of 3,365 billion yen and crude steel output of 23.20 million tonnes in fiscal 2025.

The shares of JSW Steel Limited were trading at ₹1,040.30 up by ₹12.50 or 1.22 per cent on the NSE at 11.50 am.

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Published on August 4, 2025