JSW Steel and JFE Steel team up for Odisha steel plant
JSW Steel and Japan's JFE Steel are forming a 50:50 joint venture to jointly own and operate Bhushan Power & Steel's integrated steel facility in Odisha.
The deal, announced on December 3, 2025, means both companies will share ownership, with JFE investing ₹15,750 crore in two phases.
Big boost for JSW's finances and growth
This move is set to almost halve JSW's debt by June 2026—freeing up cash to upgrade its other plants and helping the company push toward a goal of making 50 million tons of steel a year by 2031.
More tech, more products, more capacity
Before the joint venture kicks off, BPSL's business will shift to a new JSW unit.
With JFE bringing advanced tech and JSW handling operations, they plan to expand the plant beyond 10 million tons capacity and focus on higher-value steel products.
Why this matters
It's a smart play for JSW as India's demand for steel keeps rising.
By teaming up with JFE, they're aiming for better tech, bigger output, and a stronger spot in the market—making this one of the most interesting moves in Indian manufacturing right now.