JFE Steel Corporation and JSW Steel formed a joint venture.

JFE Steel Corporation, a Japanese steel manufacturer, and JSW Steel, an Indian multinational steel producer, formed a joint venture. Financial terms were not disclosed. “We are delighted to announce this strategic Joint Venture with JFE Steel for our steel business in BPSL. JFE has been a trusted partner for JSW Steel since 2009, and the relationship has strengthened over the years as both companies have collaborated on numerous initiatives. Today’s announcement brings together JSW’s expertise in India with JFE’s technological strengths, and will enable the joint venture to realise its growth potential and produce a variety of value-added steels. India is the fastest growing major economy as well as steel market in the world, and this transaction enables JSW to accelerate its growth in a financially prudent manner, and create further value for its stakeholders,” Jayant Acharya, JSW Steel Limited Joint Managing Director and CEO.