JSW Steel-JFE JV acquires Thyssenkrupp India for Rs 40.51 billion

22 Oct 2024 CW Team

JSW Steel, in partnership with Japan’s JFE Steel Corp, has finalized the acquisition of Thyssenkrupp Electrical Steel (TKES) India for Rs 40.51 billion. The 50:50 joint venture, known as Jsquare Electrical Steel Nashik, will also secure technology licenses or transfers from Thyssenkrupp as part of the transaction.

TKES India, based in Nashik, specializes in manufacturing grain-oriented electrical steel (GOES), a crucial material used in transformers and generators. Its products have been certified by major utilities and original equipment manufacturers (OEMs) in India, including the Power Grid Corporation of India. Additionally, the unit exports electrical sheets to global markets.

The plant, originally established in 1995 by Raymond Ltd to produce electrical and carbon steel, was acquired by Thyssenkrupp in stages, with the German company taking full control by 2000.

JSW Steel CEO Jayant Acharya highlighted the strategic importance of the deal, stating, “The demand for GOES is rising rapidly. This acquisition enables the JSW-JFE consortium to produce these essential materials domestically and cater to both Indian and international markets.”

The joint venture aims to leverage this acquisition to gain immediate market access and meet growing demand for electrical steel. In 2023, JSW and JFE formalized their collaboration to manufacture and sell cold-rolled, grain-oriented electrical sheets, following a 2021 memorandum of understanding to explore the venture’s feasibility.

Further expanding their presence, the consortium is investing ?5,500 crore to build a new plant in Bellary, Karnataka, with production slated to begin in FY27. These electrical steel products, containing silicon and aluminium, play a key role in improving transformer efficiency by minimizing energy losses in power transmission and distribution systems.

Avendus Capital advised on the acquisition.

(ET)

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..