JFE Steel and JSW Steel have formed a joint venture to operate Bhushan Power & Steel Limited (BPSL), marking a significant overseas investment in India's steel sector. JFE will invest ₹15,750 crore for a 50% stake in JSW Kalinga Steel, aiming to boost BPSL's capacity to 10 million tonnes by 2030 and meet India's growing steel demand with value-added products.

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