JFE Steel is a long term strategic partner of JSW Steel and one of its largest shareholders. The two companies jointly own an electrical steel business with plants in Nashik and Karnataka and a steelmaking joint venture built on the former Bhushan Power and Steel assets.
Ownership and structure
JFE Steel has a wholly owned Indian subsidiary, JFE Steel India Private Limited, and holds a 15 percent stake in JSW Steel. It also owns 50 percent of two joint ventures with JSW Steel, JSW JFE Electrical Steel and JSW JFE Kalinga Steel.
What India does for JFE Steel
India is a strategic steel investment market for JFE, built around its long partnership with JSW Steel.
Investment and deals
JFE invested over Rs 4,800 crore for a 14.99 percent stake in JSW Steel in 2010 and completed a Rs 15,750 crore investment for 50 percent of JSW JFE Kalinga Steel in 2026.
JFE Steel's India business
JFE Steel India Private Limited was incorporated in March 2008 with its registered office in Gurugram. JFE held a 15% stake in JSW Steel as of March 2025.
JSW JFE Electrical Steel, a 50:50 joint venture formed in 2024, runs a Nashik plant and is building a facility at Vijayanagar, targeting 350,000 tonnes a year of grain oriented electrical steel. In 2026 JFE completed a Rs 15,750 crore investment to take a 50% stake in JSW JFE Kalinga Steel, which holds the former Bhushan Power and Steel business.
Key moves in India
- 2008: JFE Steel India Private Limited was incorporated in March.
- 2010: JFE acquired a 14.99 percent stake in JSW Steel for over Rs 4,800 crore.
- 2024: JSW Steel and JFE formed JSW JFE Electrical Steel, a 50:50 joint venture for grain oriented electrical steel.
- 2026: JFE paid Rs 7,875 crore in March for an initial 25 percent of JSW JFE Kalinga Steel, the former Bhushan Power and Steel business.
- 2026: JFE completed a second Rs 7,875 crore tranche to reach 50 percent of JSW JFE Kalinga Steel.
Where it operates
JFE Steel runs its India business from Gurugram. It also has a presence in Nashik and Ballari.
At a glance
- Home country: Japan
- Global headquarters: Tokyo
- Sector: Manufacturing & Supply Chains
- Business: Steel
- Role of India: Investment portfolio, Manufacturing base
- India entity: JFE Steel India Private Limited
- India head office: Gurugram
- India offices: Gurugram, Nashik, Ballari
- India headcount: Not available
- In India since: 2008
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