JFE Steel & JSW Steel Sign MoU for CRGO Electrical Steel JV
JFE Steel Corporation has signed a Memorandum of Understanding to conduct a Feasibility Study with JSW Steel Limited to establish a Grain Oriented
JFE Steel Corporation has signed a Memorandum of Understanding to conduct a Feasibility Study with JSW Steel Limited to establish a Grain Oriented Electrical Steel Sheet Manufacturing & Sales Joint-Venture Company in India. The plan is to complete the study within the current 2021 fiscal year and take
The Company has continued to deepen its alliance with JSW since they signed a comprehensive Strategic Collaboration Agreement in 2009, under which JFE Steel has taken an equity stake in JSW and is providing Technical Co-operation with regard to Automotive Steel Products and Environmental measures. In the year 2012, JFE and JSW entered into an Agreement where JFE has provided technology for the production of non-oriented electrical steel sheets, which has enabled JSW to become India's leading supplier in this field.
Electrical steel sheet products, which contain additives such as silicon and aluminium, offer excellent magnetic properties including high magnetic flux density and low iron loss. Grain-oriented electrical steel sheet exhibits superb magnetic properties in a single (rolling) direction, making it ideal for the iron cores of power transformers, etc. Non-oriented electrical steel sheet, which exhibits excellent magnetic properties that are largely uniform in all directions, has applications such as the iron cores of motors. In view of the steadily increasing demand for electric power, the growing adoption of renewable energy and the electrification of automobiles, continued growth in Global and India is forecasted for grain-oriented electrical steel sheet used in transformers.