India’s Competition Commission (CCI) has approved the acquisition of Thyssenkrupp Electrical Steel India Pvt Ltd by JSquare Electrical Steel Nashik Pvt Ltd, a subsidiary of JSW JFE Electrical Steel Pvt Ltd (J2ES).
J2ES, a 50:50 joint venture between JSW Steel Ltd and Japan-based JFE Steel Corporation, is set to begin manufacturing and selling grain-oriented electrical steel (GOES) in India by 2027.
In October, J2ES finalized an agreement to fully acquire Thyssenkrupp Electrical Steel India, supporting its plans to enter the GOES market. Thyssenkrupp Electrical Steel India, based in Nashik, Maharashtra, was among the first Indian manufacturers of GOES and operates a facility with a capacity of 50,000 tons per year. The plant primarily serves the domestic market but also exports to 22 countries across six continents.
India’s annual demand for GOES, also known as cold-rolled grain-oriented (CRGO) steel, is around 0.3 mln tons, positioning this acquisition as a strategic move to meet growing local and global demand.
