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SBI, Synergy to sell stake via JSW Cement OFS
The New Indian Express Hyderabad
|August 05, 2025
WITH the demand for specialised electrical steel rising, JSW Steel, largest producer of hot-rolled metal, and Japanese alloy major JFE Steel Corporation together will invest ₹5,485 crore to augment the specialised electrical steel capacity to 3.5 lakh tonne across its Vijayanagar and Nashik facilities.
The two companies have announced two more joint ventures (JVs). The investment will be made through JVs JSW JFE Electrical Steel in Vijayanagar in Karnataka, and JSW JFE Electrical Steel Nashik in Maharashtra.
While the Vijayanagar facility will get ₹1,545 crore of additional investment from JSW, the JSW Steel-JFE Steel joint venture will invest ₹4,300 crore in the Nashik facility to ramp up specialised grain-oriented electrical steel (GOES) capacity.
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