Bhubaneswar: Odisha Friday received firm commitment from Japan’s JFE Steel Corporation for investment of Rs 15,000 crore in steel making in the State.
This is Odisha’s first single largest Japanese Investment at Rs 15,000 crore.
The JFE signed a JVC with JSW Steel for the project at Sambalpur in the presence of Odisha Chief Minister Mohan Charan Majhi.
The JSW–JFE partnership will strengthen Odisha’s capabilities in high-grade and specialty steel through advanced Japanese technology and operational expertise. The total JSW-JFE venture would involve an estimated investment of more than Rs 30,000 crore.
This Investment will further expand the existing capacity of JSW Steel by an additional 10 MTPA, marking a substantial presence of Odisha in the Global Steel Market.
The signing ceremony was graced by Union Education Minister Dharmendra Pradhan, Minister of Revenue and Disaster Management of Odisha Suresh Pujari, Minister of Panchayati Raj and Drinking Water of Odisha Narayan Nayak, MLA Jharsuguda Tankadhar Tripathy, and MLA Sambalpur Jayanarayan Mishra .The ceremony was also attended by Japan’s Ambassador to India Keiichi Ono, and Conaul General of Japan in Kolkata, Yoshihisa Ishikawa.JSW Group Chairman Sajjan Jindal, JSW Cement & Paints MD Parth Jindal, and JFE Holdings President & CEO Yoshihisa Kitano.
Chief Secretary of Odisha Ms. Anu Garg and ACS, Home, Industries and I&PR Hemant Sharma were also present.
The Chief Minister emphasized the strategic relevance of JFE’s expertise, particularly in electrical steel, critical for electric mobility, renewable energy, high-efficiency motors, transformers, and the evolving power ecosystem. Also he noted that the state currently produces about 40 million tonnes of steel annually and is progressing toward 100 million tonnes per annum to meet rising domestic and export demand driven by infrastructure growth and downstream industries.
The Union Minister Dharmendra Pradhan noted that the JV’s focus on technology-led, high-grade steelmaking and long-term India–Japan industrial cooperation. He also mentioned that the company aims to strengthen value-added steel production and contribute to India’s industrial growth.
Yoshihisa Kitano, President and CEO, JFE CTorporation, highlighted the JV’s focus on technology-led, high-grade steelmaking and long-term India–Japan industrial cooperation. He also mentioned that the company aims to strengthen value-added steel production and contribute to India’s industrial growth.
JSW Steel Chairman Sajjan Jindal underscored JSW’s execution strength, Odisha’s strategic advantage, and the partnership’s role in building value-added steel capacity and skilled employment. He also announced more investment for 10MTPA steel plants at Keonjhar and Dhenkanal.
The Odisha government has secured another FDI from South Korea as investment commitments has come from JSW Steel and South Korean Company POSCO to set up two large steel plants in the state’s Dhenkanal and Keonjhar districts. The projects, with a combined proposed capacity of 11 million tonnes per annum (MTPA), are expected to significantly strengthen Odisha’s position as a leading steel-producing hub in the country.
