Proterial India, a subsidiary of Japan’s Proterial Private Limited, has announced an investment of $148.46 million to produce amorphous electrical steel for the first time in India, industry sources said on Thursday, February 26.
The project to be implemented in the southern state of Andhra Pradesh will be built under the government’s production-linked incentive (PLI) scheme and will be entitled to fiscal incentives for creating additional special steel capacities, as per the norms of the scheme, the sources said.
According to industry sources, amorphous steel offers advantages over conventional silicon steel used in electrical transformers as it cuts losses by about 30 percent and improves overall energy efficiencies.
India is highly dependent on electrical grade steel imports, while it has a total market estimated at around $2-3 billion and projected to grow to $4 billion by 2030.