POSCO and JSW Steel to Explore 6 MTPA Integrated Steel Plant in India

POSCO Group from South Korea, a top company in making steel, and JSW Steel, one of the big steel makers in India, have signed a deal to work on building a big steel plant in India that can make 6 million tonnes of steel each year.

This deal comes after a past agreement in October 2024 and sets out the plan for a 50:50 shared business. The signing event was in Mumbai with big bosses from both companies, Lee Ju-tae, Representative Director and President of POSCO and Jayant Acharya, Joint Managing Director of JSW Steel.

Next, both firms will look closely at where to put the plant, how much to spend, and what they need. Odisha, rich in minerals and good for transport, is a top spot they're looking at.

Lee Ju-tae said, "India is key to the future of steel needs around the world. Our work with JSW is founded on trust and a shared long-term goal. This move shows our aim to help India grow its industries and brings long-term value to both groups."

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Jayant  Acharya noted, "This tie-up brings together POSCO's top steel tech and JSW's strong track of getting things done and big local reach. The planned project fits India's goal of self-reliance and will set up a world-class hub for making goods for both local and overseas markets."

This deal is a big step in making the bond between POSCO and JSW Steel stronger, helping India change its industries and become a top competitor in steel on the world stage.