Japan’s JFE Steel has finalized a 270 billion yen joint venture with India’s JSW Steel, acquiring 50% of BPSL to launch a major steel complex in Odis ha. The project, labeled JFE’s “third core integrated steel plant,” currently has 4.5 million metric tons of annual crude steel capacity, with plans to expand to 10 million tons by 2030 and 15 million tons long-term. Leveraging BPSL’s iron ore mines and JSW’s local expertise, the collaboration targets India’s fast-growing steel market—driven by urbanization, infrastructure investment, and rising per capital steel consumption (over 100 kg in 2024). JFE aims to tap high-value segments like electrical steel, supporting its goal of deriving 40% of steel business profits from overseas by 2035.