JSW and POSCO Forge Alliance for Green Steel Revolution

JSW Group has signed a Memorandum of Understanding with POSCO Group to develop a 5 MTPA plant in India, focusing on steel manufacturing, battery materials, and renewable energy. This collaboration aims to leverage both companies' strengths for a sustainable growth path in the steel and energy sectors.

In a landmark move, JSW Group has entered into a pact with South Korea's POSCO Group to develop a 5 million tonnes per annum steel plant in India. The agreement also explores joint ventures in battery materials and renewable energy, sectors critical for future sustainable growth.

Confirming the Memorandum of Understanding, JSW Group highlighted the collaboration with POSCO as a monumental step for the Indian steel industry. Sajjan Jindal, Chairman of JSW Group, emphasized the partnership's potential to set industry standards in technology and sustainability, contributing to India's fast-paced economic advancement.

Underlining the collaboration's international relevance, POSCO's Chairman, Chang In-hwa, stated that this could significantly spur economic development in both Korea and India. The partnership combines JSW's manufacturing expertise with POSCO's technological edge to create innovative solutions for the steel and energy sectors.

(With inputs from agencies.)