JSW Steel has signed a Memorandum of Understanding to conduct a feasibility study with its strategic alliance partner JFE Steel Corporation 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. The study is 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 cooperation with regard to Automotive Steel Products.