JSW Steel and JFE Steel Corporation formally announced their 50:50 joint venture, JSW JFE Steel Ltd, encompassing integrated steel operations in Sambalpur, Odisha.
The ceremony was attended by Odisha CM Mohan Charan Majhi, Union Minister Dharmendra Pradhan, JSW's Sajjan Jindal, and JFE's Yoshihisa Kitano.
The JV combines JSW's operational scale with JFE's technological expertise to manufacture flat and long steel products for automotive and infrastructure sectors.
The plant benefits from proximity to iron ore mines in India's largest iron ore-producing region, ensuring raw material security and cost competitiveness.