JSW, JFE in JV for BPSL

CHIEF financial officer, JSW Steel said with the reduction in debt, which stands at around ₹80,000 currently, the company’s net debt to Ebitda ratio will also decline in the coming quarters.

- SWAYAM SAURABH

JSW Steel emphasised that the joint venture is intended to support the next phase of BPSL’s development. The company acquired the asset in 2021 under the insolvency process and has since expanded its capacity from 2.75 million tonne to 4.5 million tonne. With land available for subsequent phases, JSW Steel management noted that the venture provides a pathway for BPSL to scale up to 10 million tonne per annum capacity while operating with shared technical oversight.

“Today’s announcement brings together JSW’s expertise in India with JFE’s technological strengths and will enable the joint venture to realise its growth potential and produce a variety of value-added steels,” Jayant Acharya, joint managing director and CEO, JSW Steel said.