Japan's JFE Steel invests ₹7,875 crore for 25% stake in JSW Kalinga Steel
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Japan's JFE Steel Corporation has invested ₹7,875 crore to acquire a 25% stake in JSW Kalinga Steel Ltd, marking the first tranche of its planned investment. This acquisition includes 2,26,94,524 equity shares, establishing joint control over JSW Kalinga and its subsidiary, JSW Sambalpur Steel Ltd. JFE's total investment in the joint venture with JSW Steel is expected to reach ₹15,750 crore, which will also involve the steel business of Bhushan Power & Steel Ltd. The joint venture aims to enhance production capacity and profitability.
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