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JSW Steel, JFE to form 50:50 JV for BPSL steel business
Business Standard
|December 04, 2025
JFE to invest ₹15,750 cr in two tranches for its 50%
Sajjan Jindal-led JSW Steel and JFE Steel Corporation will jointly own and operate the steel business of Bhushan Power and Steel Ltd (BPSL) under an equal partnership, with the Japanese steelmaker acquiring 50 per cent in the joint venture for ₹15,750 crore.
The steel business undertaking of BPSL, a subsidiary of JSW, will be transferred to the joint venture, JSW Kalinga, by way of a slump sale for a cash deal of ₹24,483 crore.
JFE will invest ₹15,750 crore in two tranches for its 50 per cent.
‘The deal is aimed at bolstering the growth of the two steelmakers, whose partnership goes back to 2009, when they signed a comprehensive agreement.
In 2010, the Japanese steel major had picked up 14.99 per cent in JSW Steel.
JSW Steel Joint Managing Director and Chief Executive Officer (CEO) Jayant Acharya described the deal as a “double engine”, allowing it to deleverage and pursue its path of growth.
This story is from the December 04, 2025 edition of Business Standard.
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