As per The Business Standard report, JSW Steel plans to enter into a strategic joint venture with Japan’s JFE Steel Corporation to expand its Bhushan Power and Steel Ltd (BPSL) operations in Odisha.
JSW Steel is set to sign a 50:50 joint venture agreement with JFE Steel Corporation to expand BPSL’s capacity in Sambalpur district.
The project involves an estimated investment of around ₹32,000 crore and is expected to be formalised on April 24.
The partnership will combine JSW’s operational scale with JFE’s advanced steelmaking technology.
The proposed expansion aims to increase BPSL’s capacity from approximately 4.5 million tonnes per annum (mtpa) to over 10 mtpa.
As part of the structure, JFE Steel is expected to acquire a 50% stake in the new entity, likely named JSW JFE Steel Ltd, with an investment of around ₹15,750 crore.
The existing integrated operations of BPSL are expected to be transferred into this joint venture.
The collaboration is expected to enhance production of specialised and high-grade steel products, particularly for sectors such as automotive, infrastructure, and engineering.
Industry experts believe the JV could also pave the way for further capacity expansion beyond current plans while strengthening technological capabilities.
JSW Steel continues to scale its presence in Odisha with multiple large investments. These include a 13.2 mtpa integrated steel plant at Paradip with an investment of ₹65,000 crore, alongside future expansion plans up to 24 mtpa.
The company has also announced investments in electric vehicles, batteries, and renewable energy projects, highlighting a diversified long-term growth strategy.
Read More: JSW Steel Reports 23.66 Lakh Tonnes Crude Steel Production In February!
As of 23 April 2026, at 9:52 AM, JSW Steel share price closed at ₹1,265.80 per share, reflecting a surge of 0.14% from the previous closing price.
The proposed JV with JFE Steel marks a significant step in JSW Steel’s expansion strategy, strengthening capacity, technology integration, and positioning in value-added steel segments.
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Published on: Apr 23, 2026, 10:13 AM IST
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