JSW Steel Okays ₹7,500 Cr Expansion at Sambalpur Unit; Shares Fall 3.11%

Mumbai, October 23: JSW Steel shares fell 3.11% to ₹1,182 on Friday after the company’s board approved a 5 million tonnes per annum (MTPA) expansion at Sambalpur, Odisha, through its 50:50 joint venture with Japan’s JFE Steel Corporation. The project also includes upgrading existing plant facilities.

The expansion is part of JSW JFE Steel Limited’s long-term growth strategy as the company looks to meet rising domestic steel demand and strengthen its product portfolio.

Project Investment and Timeline

The board approved the expansion and facility upgradation, with the total equity requirement estimated at ₹7,500 crore. JSW Steel and JFE Steel will contribute equally, with each partner investing ₹3,750 crore.

JSW JFE Steel operates an integrated steel plant with a capacity of 4.5 MTPA at Sambalpur, along with two downstream facilities at Chandikhol and Kolkata. The Sambalpur plant is currently operating at full capacity.

Implementation is expected to begin in April 2027, subject to the required statutory and environmental approvals. The project is targeted for completion over approximately 3.5 years.

The company expects the expansion to improve economies of scale, support value-added product offerings and strengthen export opportunities.

Stock Market Snapshot

The JSW Steel share price was trading 3.11% lower at ₹1,182 on Friday, October 23, 2026, compared with the previous close of ₹1,220. The stock opened at ₹1,220.

The board also approved the incorporation of a wholly owned subsidiary in the UAE for overseas investment, trading and business development in the steel and metals industry. JSW Steel will hold 100% of the proposed entity, subject to applicable regulatory approvals.

About JSW Steel

JSW Steel is an Indian steel producer with operations across integrated steel manufacturing and downstream products, serving domestic and international markets.

Conclusion

The proposed Sambalpur expansion will add capacity to JSW Steel’s joint venture with JFE Steel, with implementation expected to begin in April 2027. The project’s progress will depend on regulatory clearances and execution over the planned timeline.

Source:

• https://www.nseindia.com/get-quote/equity/JSWSTEEL/JSW-Steel-Limited
• https://nsearchives.nseindia.com/corporate/jessydenny_23102026145448_Outcome_of_Board_Meeting.pdf