JSW, POSCO Join Hands to Explore 6 MTPA Steel Plant in India

Breaking News

JSW Steel rises 2% on gas supply worries HSBC raises Tata Steel target to ₹250 British Steel to supply 120,000 mt billet to Nigeria ₹3,200 crore Tata Steel EAF starts in Ludhiana

JSW, POSCO Join Hands to Explore 6 MTPA Steel Plant in India

Large Corporate 18 Aug 2025 12:24 PM IST Economic Times

JSW Steel and POSCO Explore 6 MTPA Joint Venture in India; Odisha Among Key Contenders due to its natural resource base and logistical advantages.

JSW Steel announced on August 18 that it has signed a Heads of Agreement (HoA) with South Korea’s POSCO Group to explore setting up a 6 million tonnes per annum (MTPA) integrated steel plant in India.

The proposed 50:50 joint venture builds on the MoU signed in October last year, which outlined cooperation in steelmaking, battery materials, and renewable energy.

The HoA was signed in Mumbai in the presence of Lee Ju-tae, President of POSCO Holdings, and Jayant Acharya, Joint MD & CEO of JSW Steel. Both firms will now conduct a feasibility study covering location, investment, and resources, with Odisha emerging as a prime site due to its natural resource base and logistics.

Jayant Acharya said,

“This partnership combines JSW’s domestic strength with POSCO’s technology, supporting Atmanirbhar Bharat and creating a globally competitive hub.”

Lee Ju-tae added,

“India is central to future steel demand. Our collaboration reflects trust, vision, and commitment to India’s growth.”
According to reports, JSW and POSCO plan to invest nearly ₹65,000 crore in the project over the coming years.

Also Read : Inox's 3 MW wind turbine cleared for commercial use in India Vedanta's aluminium business head says demerger process to be completed in next 9-12 months

Breaking News