Mumbai, Dec. 5 -- JSW Steel Ltd officially announced a joint venture with Japan's JFE Steel worth Rs 15,750 crore, according to a stock exchange filing.
As part of the deal, Bhushan Power and Steel's integrated steel facility in Odisha will be transferred to a 50:50 joint venture between the two companies, the company stated.
JFE Steel stated that the JV with JSW aims to expand crude steel production at the Bhushan Power and Steel's integrated steel facility in Odisha to 10 million tonnes by 2030.
JSW Steel had acquired Bhushan Power & Steel in 2021 through an IBC process. "What was a 2.75 mtpa sick unit now stands proud as a profitable company with an enhanced capacity of 4.5 mtpa, employing 25,000 people," the company stated.
Through ...