JSW Steel Limited and JFE Steel Corporation have announced a significant expansion of their grain-oriented electrical steel (GOES) production capacity in India. The joint venture partners plan to increase their annual output to 350,000 tons, marking a substantial boost in manufacturing capabilities for this specialized steel product used primarily in electrical transformers and motors.

Expansion Details

The expansion plan involves two key facilities:

1. Vijayanagar Plant, Karnataka:

   • Capacity to be increased to 100,000 tons per annum
   • Previously planned for 62,000 tons per annum
   • Scheduled for commissioning by FY2028

2. Nashik Plant, Maharashtra:

   • Production capacity to expand five-fold to 250,000 tons per annum
   • Phased commissioning from FY2028

Investment and Strategic Implications

• The joint venture partners will invest approximately ₹5,845.00 crore towards this expansion.
• Total investment, including previously announced investments and the Nashik facility acquisition, amounts to ₹15,560.00 crore.
• JSW Steel will contribute up to ₹983.00 crore in equity funding for the project expansion.

Market Impact and Strategic Goals

Jayant Acharya, Joint Managing Director & CEO of JSW Steel, emphasized the strategic importance of this investment: "India's green energy transformation, decarbonization and digital infrastructure development are triggering large demand for high-grade electrical steel. Our GOES investment is a critical step in enabling import substitution, supporting India's energy transition goals, and delivering high-efficiency electrical steel solutions to the domestic and global markets."

The expansion aligns with several key objectives:

• Strengthening JSW JFE's position as India's leading integrated GOES producer
• Supporting national initiatives such as 'Make in India' and 'Atmanirbhar Bharat'
• Addressing the growing domestic demand for high-efficiency electrical steel
• Catering to sectors such as renewable energy, energy transition for decarbonization, e-mobility, and AI data centers

Company Profiles

JSW Steel Limited

• Flagship business of the US$ 23 billion JSW Group
• India's leading integrated steel manufacturer
• Consolidated capacity of 35.7 MTPA, with plans to expand to 43.4 MTPA in the next three years
• Recognized globally for sustainability and quality
• Committed to net-zero carbon emissions across operations by 2050

JFE Steel Corporation

• One of the world's leading integrated steel producers
• Established through the consolidation of NKK Corporation and Kawasaki Steel Corporation in 2003
• Reported consolidated sales of 3,365 billion yen and crude steel output of 23.20 million tons in the fiscal year ended March 2025

This expansion reinforces the strategic partnership between JSW Steel and JFE Steel, positioning them to meet the surging demand for high-grade electrical steel in India and global markets while contributing to India's self-reliance in the specialty steel sector.

JSW Steel , one of India's leading steel producers, has received a significant update in its ongoing legal battle concerning the Bhushan Power and Steel Limited (BPSL) resolution plan. The Supreme Court of India has issued an order allowing for an open court hearing of JSW Steel's review petition.

Background

JSW Steel had previously filed a review petition on June 25, 2025, challenging the Supreme Court's judgment dated May 2, 2025, regarding the BPSL resolution plan. This move came after a series of developments following the initial judgment.

Latest Development

In a noteworthy turn of events, the Supreme Court, through its order dated July 29, 2025, has:

1. Issued a notice on the review petition filed by JSW Steel.
2. Allowed applications for listing the review petition in open court.
3. Granted permission for oral hearings on the matter.

This decision by the apex court signifies a crucial step in the ongoing legal proceedings, potentially allowing for a more comprehensive examination of the case.

Implications

The Supreme Court's decision to allow an open court hearing and oral arguments could have significant implications for JSW Steel and the resolution of the Bhushan Power and Steel Limited case. It provides an opportunity for JSW Steel to present its case more extensively before the court.

Company's Disclosure

JSW Steel, in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, has promptly informed the stock exchanges about this development. The company's disclosure demonstrates its commitment to transparency and adherence to regulatory requirements.

Looking Ahead

As the case progresses, stakeholders will be keenly watching the developments in this high-stakes matter. The outcome of this review petition could have far-reaching consequences for JSW Steel and potentially impact the broader landscape of corporate resolutions under the Insolvency and Bankruptcy Code in India.

Investors and industry observers are advised to stay tuned for further updates as this legal battle unfolds in the Supreme Court.