Steel News

JFE Steel Plans Even Bigger Expansion of NGO Sheet Capacity

2/7/2023 - JFE Steel Corp. is doubling down on an expansion of its electrical steel sheet capacity, announcing Monday that it will invest an additional JPY50 billion (US$381.2 million) in a project already underway. 

According to JFE Steel, the new round of investment will triple the non-oriented sheet capacity at its West Japan Works. 

“The electrification of automobiles is accelerating amid the global push toward carbon neutrality. The demand for high-grade non-oriented electrical steel sheet products used in the drive motors of electric vehicles is expected to continue expanding in parallel with the further tightening of global environmental regulations,” the company said. 

The company in 2021 announced plans for the current JPY49 billion project, which is set for completion in the first half of fiscal 2024. The newly announced second expansion is to be completed in fiscal 2026.