JSW Steel and South Korea's POSCO Group, a global leader in steel production, 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. The agreement marks a significant step toward deepening strategic collaboration between two of the world's most respected steel companies.
This HoA builds on the Memorandum of Understanding (MoU) signed by both parties in October 2024 and outlines the broad framework for the proposed 50:50 joint venture.
As part of the next steps, JSW and POSCO will undertake a detailed feasibility study to finalize the plant's location, investment terms, resource availability, and other critical factors. Given its natural resource base and logistical advantages, Odisha is among the key locations being considered.