JSW Steel and Japan’s JFE Steel Corporation officially launched their 50:50 joint venture, named JSW JFE Steel Limited, during a ceremony in Sambalpur, Odisha, on Friday. Previously known as JSW Sambalpur Steel Ltd, the new entity will manage integrated steel operations at the Sambalpur facility.
The announcement was made in the presence of several dignitaries, including Odisha Chief Minister Mohan Charan Majhi, Union Minister of Education Dharmendra Pradhan, JSW Group Chairman Sajjan Jindal, JFE Holdings President and CEO Yoshihisa Kitano, and Japanese Ambassador Keiichi ONO.
This rebranding coincides with the 15th anniversary of the JSW-JFE strategic alliance, which was established in 2009. The Sambalpur plant produces a variety of steel products, including hot-rolled coils, cold-rolled coils, and value-added downstream products, serving sectors such as automotive, infrastructure, construction, and capital goods. The facility benefits from its proximity to iron ore mines located in Odisha, the largest iron ore-producing region in India.
JSW Steel, part of the $23-billion JSW Group, currently possesses a consolidated crude steel capacity of 35.9 million tonnes per annum (MTPA), with 34.4 MTPA attributed to domestic capacity. The company aims to expand its consolidated capacity to 43.9 MTPA within the next three years. JFE Steel, formed from the 2003 merger of NKK Corporation and Kawasaki Steel, reported a crude steel output of 23.20 million tonnes for the fiscal year ending March 2025.
On the National Stock Exchange (NSE), JSW Steel’s shares closed at ₹1,255.70 on Friday, reflecting a 0.10 percent decline for the day. However, the stock has appreciated more than 20 percent over the past year, outperforming the Nifty 50 index, which has declined by 1.44 percent during the same timeframe. The company’s total market capitalization is approximately ₹3.07 lakh crore.
Published on April 24, 2026.
