According to Reuters, the investment includes the expansion of cold-rolled grain oriented (CRGO) electrical steel capacity at two mills.
The JSW-JFE partnership will increase production capacity at its Nashik plant in Maharashtra from 50,000 tons to 250,000 tons per year. Around INR 43 billion will be invested for this expansion. At the Vijayanagar plant in Karnataka, capacity will be increased from 62,000 tons to 100,000 tons and an investment of INR 15.45 billion is planned here.
CRGO steel stands out as a critical material that provides high energy efficiency, especially in the transformer and energy sector. The investment aims to meet the increasing domestic demand in India and reduce foreign dependency.
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