JFE Steel, the second-largest steel manufacturer in Japan, decided to set up a joint venture with India’s JSW Steel by the end of this year for the production of electrical steel sheets used in power plant transformers.
JFE Steel said the company aimed to raise the growth rate in the Indian market by supplying special steel products.
Due to the rapidly growing power demand in India, JFE Steel announced last year that it will conduct a feasibility study for a joint venture with JSW Steel, in which JFE Steel will hold a 15% stake.
Source: YIEH
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