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To establish a Grain Oriented Electrical Steel Sheet Manufacturing and Sales Joint-Venture Company in IndiaJSW Steel today announced that it 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 complete the study within the current 2021 fiscal year and take appropriate steps to set up this JV company subject to requisite approvals.
JSW Steel and JFE Steel continue to deepen their alliance since they signed a comprehensive Strategic Collaboration Agreement in 2009, under which JFE Steel took an equity stake in JSW Steel, and has provided Technical Co-operation with regard to Automotive Steel Products. In the year 2012, JSW and JFE entered into an Agreement
JSW Steel & JFE Steel propose Grain Oriented Electrical Steel Sheet Manufacturing JV
By IANS |
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JSW Steel plant in Ballari, Karnataka. . Image Source: IANS News
Mumbai, May 7 : Private sector steel maker 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 complete the study within the current 2021 fiscal year and take appropriate steps to set up this JV company subject to requisite approvals.
JSW Steel and JFE Steel continue to deepen their alliance since they signed a comprehensive Strategic Collaboration Agreement in 2009, under which JFE Steel took an equity stake in JSW Steel, and has provided technical co-operation with regard to Automotive Steel Products.
Sensex up 187 points intra-day, Nifty 50 above 14,700
May 07, 2021
Benchmark indices were trading in the green on Friday, led by metal stocks.
Market opened on a positive note amid bullish global cues and managed to retain the gains in the first half. The US stocks overnight closed strongly higher, while most Asian markets were also in the green.
While US President Joe Biden’s decision to waive intellectual property rights on Covid-19 vaccines is a major positive, concerns related to the impact of the second wave of Covid-19 and lockdowns in key States still remain.
At 1 pm, Sensex was at 49,136.68, up 186.92 or 0.38 per cent. It hit an intra-day high of 49,417.64 and a low of 49,072.01. The Nifty 50 was at 14,796.90, up 72.10 or 0.49 per cent. It hit an intra-day high of 14,863.05 and an intra-day low of 14,771.45.