JFE Steel and JSW Steel form joint venture to invest in India
Japanese steel maker JFE Steel Corporation has formed a joint venture (JV) with JSW Steel Limited to jointly operate the steel business of Bhushan Power & Steel Limited (BPSL). JFE will invest Rs 15,750 crore for a 50% stake in JSW Kalinga Steel, aiming to boost BPSL's capacity to 10 million tonnes by 2030.
BPSL operates an integrated steel plant and an iron ore mine in Odisha with an annual crude steel capacity of 4.5 million tonnes.
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