Home / Business and Economy / JSW & JFE Steel Spur Odisha Growth: Rs 7,500 Cr Boost
JSW & JFE Steel Spur Odisha Growth: Rs 7,500 Cr Boost
23 Oct
Summary
- JSW Steel and JFE Steel jointly invest Rs 7,500 crore.
- Odisha steel production to reach 9.5 million tonnes by FY31.
- Expansion project for JSW JFE Steel Ltd targets 5 MTPA increase.
JSW Steel and its Japanese partner, JFE Steel, have approved a significant expansion of their joint venture steel project in Odisha. The investment totals Rs 7,500 crore, with both companies contributing Rs 3,750 crore each. This expansion will increase the JSW JFE Steel Ltd (JJSL) plant's capacity by 5 MTPA, bringing the total to 9.5 MTPA by FY31.
The project, slated to begin in April 2027 and complete over 3.5 years, is subject to statutory and environmental approvals. It aims to bolster JJSL's market standing, improve economies of scale, and expand its value-added product range, potentially boosting export opportunities.
In addition to the Odisha expansion, the board also greenlit further investments in other steel and mining operations. These include expansions at Vasind and the JSW Utkal facility in Odisha, along with a new pellet plant and enhancements at various other sites. A coking coal mine expansion in Mozambique is also planned.
