JSW Steel is set to deepen its global partnerships by signing a 50:50 joint venture with Japan's JFE Steel Corporation on April 24 for the expansion of Bhushan Power and Steel Ltd (BPSL) in Sambalpur district, Odisha. The joint venture, named JSW JFE Steel Ltd, will involve an investment of around ₹32,000 crore and aims to increase the plant's capacity from approximately 4.5 million tonnes per annum (mtpa) to over 10 mtpa. The agreement will be signed during the 'Forging Ahead' event, attended by notable figures including Chief Minister Mohan Charan Majhi and JFE Steel's CEO Masayuki Hirose. This collaboration is expected to leverage JSW's scale and raw material access alongside JFE's advanced steelmaking technology. Additionally, the expansion is anticipated to create employment opportunities and stimulate ancillary industries in western Odisha. Since acquiring BPSL in 2019, JSW has successfully revived its operations, increasing production significantly. The new venture is part of JSW's broader investment strategy in Odisha, which includes various steel and renewable energy projects.