JSW Steel Ltd. has announced an update on their joint venture with JFE Steel Corporation, Japan. JSW Electrical Steel Private Limited (JSWESPL) has been incorporated as a wholly owned subsidiary of JSW Steel Ltd., with the company and JFE being allotted equity shares of JSWESPL at par. JSWESPL has now become a 50:50 joint venture between JSW Steel Ltd. and JFE.