Key facts
- JFE Steel will invest JPY 270 billion in a joint venture with JSW Steel.
- The joint venture will acquire Bhushan Power & Steel Limited's integrated steel facility in Odisha, India.
- Crude steel production capacity will expand to 10 million tons per year by 2030.
- The facility's current crude steel production capacity is 4.5 million tons per year.
JFE Steel Corporation will construct a new blast furnace at a steel plant in India that it jointly operates with JSW Steel, according to a company announcement on Thursday, October 23, 2026. This expansion is expected to double the facility's crude steel production capacity to 10 million tons per year by 2030. The Japanese company is investing approximately JPY 270 billion (INR 157.5 billion) into the joint venture, which will acquire the integrated steel facility of Bhushan Power & Steel Limited in Odisha, India. The existing facility has a crude steel production capacity of 4.5 million tons per year.