1. JVML Phase-2 brownfield - Board approved 5 MTPA expansion at Vijayanagar with ₹26,000 crore capex, commissioning by FY30; equipment ordering in progress. Takes the site to \~25 MTPA, the world's largest single-location plant, and JVML already earns EBITDA per tonne similar to the parent.
2. JFE JV deleveraging - JFE's ₹15,750 crore investment for 50% of the BPSL steel business completed 30 June 2026, deleveraging \~₹37,000 crore. This resets the balance sheet (leverage 1.46, gearing 0.42) to fund the \~₹60,000 crore FY30 capex pipeline without equity dilution.
3. Vijayanagar BF-3 restart - Blast furnace lit up end-June 2026 after 3.0→4.5 MTPA upgradation, ramping at \~80% within weeks; incremental volume from Q2 FY27. Adds 1.5 MTPA capacity at a site where JVML already runs at 90%+ utilization.
4. Dolvi Phase-III - 10→15 MTPA expansion with ₹20,000 crore capex on track for September 2027 completion; long lead-time equipment ordered, civil work underway. Adds 5 MTPA - a 15% capacity jump - with the sinter plant addition cutting raw material costs.
5. Iron ore captive mines - Cudnem mine in Goa started November 2025, Odisha EC capacity at 19.2 MTPA expanding to 31.2 MTPA by FY27. Captive sourcing rising from \~33% toward 50% by FY30 cuts purchased ore costs and secures supply for the Vijayanagar and Utkal expansions.
6. JSW Utkal greenfield - Board approved 5 MTPA plant at Jagatsinghpur, ₹31,600 crore capex, commissioning by FY30; two 8 MTPA pellet plants expected by FY28. First phase of a site with expansion potential to 13.2 MTPA, fed by the slurry pipeline that saves up to ₹1,000 per tonne of iron ore.
7. Slurry pipeline commissioning - 302 km, 30 MTPA pipeline from Odisha mines to Jagatsinghpur on track for March 2027 commissioning; \~190 km laid. Delivers logistics cost savings up to ₹1,000 per tonne of iron ore - on \~20 MTPA intended throughput, that is \~₹2,000 crore annual EBITDA potential.
8. BMM Ispat merger - Scheme of Amalgamation approved 14 May 2026; BMMIL has \~1 MTPA integrated facility near Vijayanagar with environmental clearances for 2 MTPA and expansion-ready land. Near-doubles capacity at low specific investment cost, with FY27 guidance already including 0.75mt production.
9. JSW One Platforms IPO - Board approved offer for sale of up to ₹811 crore in JOPL's proposed IPO. Platform GMV grew 51% YoY to ₹5,919 crore in Q1 FY27 with positive EBITDA - the IPO unlocks value from a 60.52% stake in a business compounding faster than steel.