JSW Steel Ltd. has finalised a Rs 15,750-crore joint venture with Japan-based JFE Steel, creating a new 50:50 entity that will house Bhushan Power and Steel Ltd.’s integrated steel plant in Odisha.

The agreement, disclosed through an exchange filing on Wednesday, marks one of the largest collaborative investments in the domestic steel sector in recent years.

Odisha Plant to Anchor New 50:50 JV

Under the arrangement, as reported by NDTV, the BPSL facility, currently owned by Piombino Steel Ltd., will be transferred to the newly formed joint company. Piombino Steel is controlled predominantly by JSW Steel, which holds 82.65%, with the remainder owned by JSW Shipping & Logistics Pvt. Ltd.

The new partnership is designed to lift crude steel output at the Odisha complex to 10 million tonnes

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