JSW Steel signs MoU with JFE Steel by admin- Friday, May 7th, 2021 05:29:00 PM
JSW Steel has signed a Memorandum of Understanding to conduct a Feasibility Study with JFE Steel Corporation, a Strategic Alliance Partner, to establish a Grain Oriented Electrical Steel Sheet Manufacturing and Sales Joint-Venture Company in India. The plan is to finish the take a look at in the cutting-edge 2021 fiscal yr and take appropriate steps to installation this JV organisation concern to needful approvals.
JSW Steel and JFE Steel continue to deepen their alliance considering they signed a comprehensive Strategic Collaboration Agreement in 2009, beneath which JFE Steel took an equity stake in JSW Steel, and has furnished Technical Co-operation with regard to Automotive Steel Products. In the year 2012, JSW and JFE entered into an Agreement wherein JFE has supplied technology for the production of non-orientated electric metal sheets, which has enabled JSW to end up India’s main provider in this subject.