Japan's JFE Steel Corporation limited has invested approximately $837.77 million to acquire a 25 percent stake in JSW Kalinga limited, a subsidiary of India's JSW Steel limited, according to a regulatory filing on Wednesday, April 1.
This is the first phase of investment, while in the second phase, JFE Steel Corporation will invest an equivalent amount to acquire an additional 25 percent in JSW. Kalinga limited.
Thereafter, JSW Kalinga limited will become a 50:50 joint venture between JSW Steel limited and JFE Steel Corporation under an agreement between the two companies signed in December 2025.
Under this agreement between the two companies, the joint venture will take over control of the operations of Bhushan Power and Steel limited (BPSL), which was acquired by JSW Steel limited in
According to an announcement made by JSW Steel limited in December last year, the joint venture between JSW Steel and JFE Steel plans to expand BPSL's crude steel production capacity to 10 million tonnes per annum from 4.5 million tonnes per annum at present, while the JV also includes its own iron ore mine.
The Japanese steel company's cross-border investment has already been approved by the Indian fair trade regulator, Competition Commission of India (CCI).
