A New Era in Steel: JSW and POSCO Partner for a 6 MTPA Plant

JSW Steel, one of India’s leading steel producers, has signed a non-binding Heads of Agreement (HoA) with South Korea’s POSCO Group to jointly explore the establishment of a 6 million tonnes per annum (MTPA) integrated steel plant in India.

The HoA builds on a Memorandum of Understanding (MoU) signed in October 2024, outlining a proposed 50:50 joint venture between the two companies. The agreement was formalized in Mumbai in the presence of Lee Ju-tae, President of POSCO Holdings, and Jayant Acharya, Joint Managing Director & CEO of JSW Steel.

As part of the next steps, both companies will undertake a comprehensive feasibility study to finalize the plant’s location, investment structure, and resource requirements. Odisha has emerged as a strong candidate, given its abundant natural resources and strategic logistical advantages.

Commenting on the collaboration, Jayant Acharya said, “This partnership combines JSW’s execution excellence with POSCO’s technological leadership in steelmaking.” Lee Ju-tae added, “India is at the heart of future global steel demand. Our partnership with JSW is built on mutual trust and a shared long-term vision.”

News by Rahul Yelligetti.