JSW Steel, POSCO Sign Pact to Explore 6-MTPA Indian Plant

JSW Steel Ltd. and South Korea’s POSCO have signed a heads-of-agreement to explore building an integrated steel plant in India with capacity of about 6 million tonnes per year. The companies said the venture would be structured as an equal partnership, though financial terms and an exact location have not yet been finalised. Odisha is among the sites under active consideration, reflecting the state’s proximity to iron-ore reserves and port infrastructure. The announcement deepens ties between the two steelmakers; last year they agreed to develop a separate 5 MTPA plant in the same state and outlined plans to invest roughly 650 billion rupees (US$7.4 billion) in that project. Beyond the proposed plant, the partners said they continue to examine opportunities in battery materials for electric vehicles and renewable-energy initiatives, underscoring their broader push to expand in low-carbon steel and related technologies.