JSW Steel and JFE Steel to form JSW JFE Electrical Steel in a $670m deal.

JSW Steel, a multinational steel producer, and JFE Steel, a steel manufacturer, agreed to form JSW JFE Electrical Steel, a grain-oriented electrical steel company, in a $670m deal. "This collaboration is a milestone development, as it would be the first company to have end-to-end manufacturing of grain-oriented electrical steel products in India. The JV aspires to cater to the surging domestic demand for grain-oriented electrical steel and contribute significantly to the country's energy infrastructure," JSW Steel.