India Business Journal - JSW Steel and POSCO explore option of setting up a 6-mtpa integrated plant

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JSW Steel and POSCO explore option of setting up a 6-mtpa integrated plant

IBJ Bureau
Aug 19, 2025

JSW Steel has announced that it has signed an agreement with South Korean steel producer, POSCO Group, to explore the possibility of jointly setting up a 6-million tonne per annum (MTPA), integrated steel plant in India.

The Indian steel-maker, along with its international peer, has said that the agreement builds on the memorandum of understanding (MoU), signed by both the parties in October last year, and outlines the broad framework for the proposed 50:50 joint venture. “The agreement marks a significant step towards deepening strategic collaboration between two of the world’s most respected steel companies,” the two companies have added.

The agreement was signed in Mumbai in the presence of Lee Ju-tae, the representative director and president of POSCO Holdings, and Jayant Acharya, the joint managing director and CEO of JSW Steel.

After signing agreement, JSW and POSCO will undertake a detailed feasibility study to finalise the location of the plant, terms of investment, availability of resources and other critical factors, the joint statement has said. Odisha is being considered among the key locations due to its base of natural resources and logistical advantages.

Speaking about the prospective partnership, Mr Acharya has said: “This partnership brings together JSW’s proven execution capabilities and strong domestic footprint with POSCO’s technological leadership in steel-making. 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.”