JSW Steel and Japan’s JFE Steel Corporation on Friday formally unveiled their 50:50 joint venture under the new name JSW JFE Steel Limited, at a ceremony held in Sambalpur, Odisha. The entity, formerly known as JSW Sambalpur Steel Ltd, encompasses integrated steel operations at the Sambalpur site.

The announcement was made in the presence of 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.

The rebranding also marks 15 years of the JSW-JFE strategic alliance, which began in 2009. The Sambalpur facility produces flat and long steel products including hot-rolled coils, cold-rolled coils, and value-added downstream products serving the automotive, infrastructure, construction, and capital goods sectors. The plant benefits from proximity to iron ore mines in Odisha, India’s largest iron ore-producing region.

JSW Steel, the flagship of the $23-billion JSW Group, currently holds a consolidated crude steel capacity of 35.9 million tonnes per annum (MTPA), with domestic capacity at 34.4 MTPA. The company targets expanding consolidated capacity to 43.9 MTPA over the next three years. JFE Steel, formed from the 2003 merger of NKK Corporation and Kawasaki Steel, reported crude steel output of 23.20 million tonnes in the fiscal year ended March 2025.

On the NSE, JSW Steel closed Friday at ₹1,255.70, down 0.10 per cent on the day. The stock has gained over 20 per cent in the past year, outperforming the Nifty 50, which is down 1.44 per cent over the same period. The company’s total market capitalisation stands at approximately ₹3.07 lakh crore.

Published on April 24, 2026