Joint Venture18 Aug 2025, 08:59 am
JSW Steel and POSCO Group to Explore 6 MTPA Integrated Steel Plant in India
AI Summary
JSW Steel and POSCO Group have signed a non-binding Heads of Agreement (HOA) to jointly explore setting up a 6 million tonnes per annum (MTPA) integrated steel plant in India. This HOA builds on a Memorandum of Understanding (MoU) signed by both parties in October 2024. The proposed venture aligns with India’s vision of Atmanirbhar Bharat and will help create a globally competitive manufacturing hub to serve both domestic and export markets. The final terms of the joint venture are subject to feasibility and approvals.
Key Highlights
- JSW Steel and POSCO Group sign Heads of Agreement to explore a 6 MTPA Integrated Steel Plant in India
- The proposed joint venture aims to combine JSW’s scale with POSCO’s technology
- Odisha is being considered as a potential site for the plant
- The final terms of the joint venture are subject to feasibility and approvals
- The venture aligns with India’s vision of Atmanirbhar Bharat and will help create a globally competitive manufacturing hub