JSW Steel Limited has completed the structuring of its joint venture involving Bhushan Power & Steel Limited (BPSL), marking a key step in consolidating and scaling its acquired steel assets.
The restructuring is part of a broader transaction under which the steel business of Bhushan Power & Steel is being reorganised and integrated into a 50:50 joint venture with JFE Steel Corporation. The move follows a multi-step process involving transfer of BPSL’s steel operations to JSW Sambalpur Steel Limited, a subsidiary within the JSW Group structure.
Under the agreed framework, JFE Steel will acquire an effective 50% stake in the venture through phased investments, with the transaction structured to ensure shared ownership and operational control between the two partners.
The joint venture is centred around BPSL’s integrated steel plant in Odisha, which currently has a crude steel capacity of around 4.5 million tonnes per annum. Plans are in place to expand this capacity to 10 million tonnes by 2030, positioning the facility as a major production hub.
The restructuring and JV formation are aimed at streamlining operations, improving efficiency, and enabling access to advanced steelmaking technologies, leveraging JFE’s technical expertise alongside JSW’s domestic manufacturing strength.
This development is part of JSW Steel’s larger strategy to optimise its asset portfolio, strengthen international partnerships, and scale up production capacity to meet rising demand driven by infrastructure and manufacturing growth in India.
