JSW Steel, JFE Steel Form Rs 31,500-Crore Joint Venture

JSW Steel and JFE Steel Corporation have teamed up to create a new company for the steel business of Bhushan Power & Steel.

This partnership is worth Rs 31,500 crore, with JFE Steel investing half of that amount for a 50% share.

JSW Steel will receive Rs 24,483 crore from this deal, which will help strengthen its financial position.

JSW Steel has already increased the production capacity of Bhushan Steel from 2.75 million tonnes to 4.5 million tonnes per year.

Both companies believe this joint venture will help them grow and contribute to the development of the steel industry in India.

JSW Steel's share price has seen a slight decline recently but has increased significantly over the past year.