JSW Steel & POSCO form 50:50 JV for 6 MTPA Odisha steel plant
JSW Steel Ltd has announced a 50:50 Joint Venture with POSCO Group. This JV will be formed through Saffron Resources Private Limited, a wholly-owned subsidiary of JSW Steel. The primary objective of this partnership is to establish a greenfield 6 MTPA integrated steel plant in Odisha, India. Saffron Resources already holds 887 acres of land in Odisha, which is intended for the proposed plant. POSCO Group will invest approximately ₹508.8 crore by subscribing to shares in Saffron. This strategic collaboration aims to strengthen ties between the two steel producers, providing JSW Steel with access to advanced technology and enabling the manufacturing of high-grade steel products for automotive and other sectors. The Board of Directors approved this agreement on April 17, 2026.
Key Highlights
- JSW Steel and POSCO Group formed a 50:50 Joint Venture.
- The JV will establish a 6 MTPA greenfield integrated steel plant in Odisha.
- POSCO Group will invest approximately ₹508.8 crore in the JV entity.
- Saffron Resources Pvt Ltd, a JSW subsidiary, will become the JV.
- The partnership aims to access technology for high-grade steel production.
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