# JFE Steel and JSW Steel form $670M joint venture for electrical steel in India

JFE Steel and JSW Steel signed a joint venture agreement to establish JSW JFE Electrical Steel Private Limited in Bellary district, Karnataka, India, to manufacture grain-oriented electrical steel (GOES). Total investment is planned at $670 million, with full production targeted for fiscal 2027.

- Type: Acquisition
- Announced: 2023-08-03
- Where: Bellary district, Karnataka state, India
- Value: $670.0M
- Status: announced
- Products: grain-oriented electrical steel sheet (GOES)
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [JFE Steel Corporation](https://endata.com/companies/19688.md) (partner)
- [JSW Steel](https://endata.com/companies/22727.md) (partner)
- [JSW JFE Electrical Steel Private Limited](https://endata.com/companies/71811.md) (target)

## Sources

- [jfe-steel.co.jp](https://www.jfe-steel.co.jp/en/release/2023/230803-2.html), 2023-08-03: "JFE Steel Corporation (JFE Steel) and JSW Steel Limited (JSW Steel) have now signed the joint venture agreement for establishment of a grain-oriented electrical steel sheet (GOES) manufacturing joint venture company (JV), JSW JFE Electrical Steel Private Limited."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.