Joint Venture3 Dec 2025, 02:27 pm
JSW Steel and JFE Steel Corporation to Form 50:50 Joint Venture for Bhushan Power and Steel's Steel Business
AI Summary
JSW Steel Limited and JFE Steel Corporation have approved a strategic joint venture partnership for the steel business undertaking of Bhushan Power and Steel Limited (BPSL). The joint venture will be formed through JSW Sambalpur Steel Limited, a subsidiary of Piombino Steel Limited, which is owned 82.65% by JSW Steel Limited and 17.35% by JSW Shipping & Logistics Private Limited. JFE will invest Rs. 15,750 crores in two equal tranches for a 50% equity stake in JSW Kalinga Steel Limited, the holding company of JSW Sambalpur.
Key Highlights
- 50:50 joint venture between JSW Steel Limited and JFE Steel Corporation for BPSL's steel business undertaking
- JFE to invest Rs. 15,750 crores in two equal tranches for a 50% equity stake in JSW Kalinga Steel Limited
- BPSL's steel business has significant growth potential and this joint venture will enable acceleration of its capacity with best-in-class technology
- Transaction subject to necessary regulatory and shareholder approvals, including approval of the Competition Commission of India
- JSW Steel Limited's growth target of achieving a steel-making capacity of 50 MTPA in India by FY 2031