JSW Steel and Japan’s JFE Steel Corporation have announced a 50:50 joint venture to expand the Bhushan Power and Steel Ltd (BPSL) facility in Sambalpur, Odisha, with an estimated investment of ₹32,000 crore.
The project involves a 6 million tonnes per annum (mtpa) brownfield expansion, significantly boosting the production capacity of the Odisha unit and strengthening JSW Steel’s footprint in eastern India.
The companies also unveiled the new entity JSW Steel JFE Steel Limited, which will house the integrated steel operations of BPSL. As part of the agreement, JFE Steel will hold a 50% stake, translating to an investment of around ₹15,750 crore.
The announcement was made in the presence of key leaders including Mohan Charan Majhi, Dharmendra Pradhan, Sajjan Jindal, Parth Jindal, Yoshihisa Kitano, and Keiichi Ono.
This development marks 15 years of strategic partnership between JSW Steel and JFE, which began in 2009.
The expansion comes at a time when domestic steel demand in India is rising, driven by sectors such as infrastructure, automotive, engineering, and construction.
Beyond capacity addition, the JV aims to accelerate the production of high grade and specialised steel products, leveraging JFE’s expertise in advanced steel technologies and value added segments.
The project is expected to play a key role in strengthening India’s steel manufacturing ecosystem while boosting industrial growth in eastern India.
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