JSW Steel and JFE Steel Corp ink pact to conduct feasibility study
Steel

JSW Steel and JFE Steel Corp ink pact to conduct feasibility study

JSW Steel has signed a Memorandum of Understanding (MoU) to lead a feasibility study with JFE Steel Corporation to build a grain-oriented electrical steel sheet production and sales joint enterprise company in India.

The steel major told the media that JSW and JFE Steel continue to expand the partnership since they approved a comprehensive strategic collaboration agreement in 2009, where JFE Steel took an investment stake in JSW Steel and provided technical cooperation concerning automotive steel products.

As per JSW, the approach is towards finishing the study in FY2021 and taking proper steps to establish the joint venture company subject to requisite permissions.

JSW Steel also said that because of the steadily growing demand for electric power, the increasing selection of renewable energy and electrification of vehicles, a constant increase is anticipated in India and universally for grain-oriented electrical steel sheets used in transformers.

Grain-oriented electrical steel is a necessary element in the manufacturing of energy-efficient transformers and high-production generators. It exhibits exceptional magnetic properties in a single (rolling) way making it ideal for the iron cores of power transformers.

Image Source


Also read: JSW Steel starts production at Dolvi plant in Maharashtra

JSW Steel has signed a Memorandum of Understanding (MoU) to lead a feasibility study with JFE Steel Corporation to build a grain-oriented electrical steel sheet production and sales joint enterprise company in India. The steel major told the media that JSW and JFE Steel continue to expand the partnership since they approved a comprehensive strategic collaboration agreement in 2009, where JFE Steel took an investment stake in JSW Steel and provided technical cooperation concerning automotive steel products. As per JSW, the approach is towards finishing the study in FY2021 and taking proper steps to establish the joint venture company subject to requisite permissions. JSW Steel also said that because of the steadily growing demand for electric power, the increasing selection of renewable energy and electrification of vehicles, a constant increase is anticipated in India and universally for grain-oriented electrical steel sheets used in transformers. Grain-oriented electrical steel is a necessary element in the manufacturing of energy-efficient transformers and high-production generators. It exhibits exceptional magnetic properties in a single (rolling) way making it ideal for the iron cores of power transformers. Image SourceAlso read: JSW Steel starts production at Dolvi plant in Maharashtra

Next Story
Real Estate

MHADA Slashes EWS Home Prices in Thane Scheme

The Konkan Housing and Area Development Board (KHADB), a wing of the Maharashtra Housing and Area Development Authority (MHADA), has trimmed the sale price of 6,248 Pradhan Mantri Awas Yojana (Urban) homes in Thane district and placed them on a first-come, first-served basis. In Shirgaon, the cost of 5,236 units has fallen by about Rs 0.14 million each, from roughly Rs 2.07 million to Rs 1.93 million, while in Khoni the price for 1,012 houses has been lowered by around Rs 0.10 million to about Rs 1.91 million apiece. KHADB chief officer Revati Gaikar said the cuts aim to help economi..

Next Story
Real Estate

Brigade Plans Rs 21 Bn South Chennai Housing Scheme

Brigade Enterprises has unveiled Brigade Morgan Heights, a residential development in South Chennai carrying a gross development value of about Rs 21 billion. Rising on a 14.7-acre plot along the Sholinganallur–Medavakkam corridor, the scheme will deliver roughly 2.2 million square feet of premium apartments across 1,250 two-, three- and four-BHK units, the largest spanning 2,599 square feet.Positioned just 150 metres from the forthcoming Classical Tamil Institute Metro Station, the site offers ten-minute road links to technology parks such as ELCOT, Wipro and Cognizant, enhancing its appeal..

Next Story
Infrastructure Urban

Saya, Lemon Tree To Run 336 Business Suites In Noida

NCR-based real estate developer Saya Group has partnered with Carnation Hotels Pvt Ltd, a subsidiary of Lemon Tree Hotels, to manage 336 fully serviced business suites in Greater Noida. The suites are located within Saya SouthX, a 3-acre mixed-use commercial development with a built-up area of around 68,000 square metres.Under the agreement, Lemon Tree Hotels will operate the suites—each averaging 62 square metres—spanning the 7th to 25th floors of the development. The collaboration aims to offer high-quality business accommodation tailored to the needs of working professionals, entreprene..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?