JSW Steel to invest Rs 5,845 crore in a JV with JFE Steel for capacity expansion
JSW Steel and JFE Steel are forming a joint venture to produce more Grain Oriented Electrical Steel (GOES) in India, where there is a shortage of 30%. This is a strategic move as India heavily relies on imports for GOES. JSW Steel has increased its production targets at its Vijaynagar and Nashik plants to meet the growing demand.