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JSW Steel to set up new plant to manufacture CRNO grade electrical steel

30 Jul 2013 Evaluate

In a bid to manufacture non-grain oriented (CRNO) grade electrical steel, JSW Steel is all set to commission the new plant with 2,00,000 tonne per annum capacity at Vijayanagar steel complex in Bellary district during the next financial year. In this regard, the company has already placed orders for major equipment and expects to commission the facility by FY2015.

In addition to a new 2.3 million tonne per annum cold rolling mill, which will focus on automotive and appliance grade steel, the company has signed various agreements with JFE Steel in November 2012 to collaborate for the manufacturing of electrical steel, the first such venture in India.

JSW Steel is part of the JSW group which, in turn, is a part of the O P Jindal group. JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.

Peers
Company Name CMP
JSW Steel 1230.00
Tata Steel 179.10
Steel Authority 174.00
Jindal Stainless 732.40
APL Apollo Tubes 2119.90
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