Bhubaneswar, April 24 -- JSW Steel is set to expand its global footprint with a new joint venture (JV), days after formalising a partnership with South Korea's POSCO Group for a major steel project in Odisha. The Sajjan Jindal-led firm will now join hands with Japan's JFE Steel Corporation to expand Bhushan Power and Steel Ltd (BPSL) in Sambalpur district.

Official sources said the proposed JV will focus on a 6 million tonne per annum (mtpa) expansion of the BPSL facility, involving an estimated investment of Rs 32,000 crore. The agreement is expected to be signed on April 24 at an event titled 'Forging Ahead' at Thelkoloi in Sambalpur, in the presence of Chief Minister Mohan Charan Majhi, Japanese Ambassador to India Keiichi Ono, and JF...