JSW and POSCO Join Forces for Mega Steel Plant in Odisha

JSW Group and POSCO have announced their collaboration to establish a greenfield steel facility in Keonjhar, Odisha. With an initial capacity of 5 million tonnes per annum, the venture aims to enhance steel production and explore EV battery and renewable energy collaborations. Odisha's government has identified land for the project.

Amidst much speculation, Odisha Chief Minister Mohan Charan Majhi announced on Friday that JSW Group and South Korean steel giant POSCO will establish a new greenfield steel facility in Keonjhar, Odisha.

The announcement puts an end to the uncertainty over the location of the much-anticipated JSW-POSCO joint venture, which will have an initial production capacity of 5 million tonnes per annum.

The two companies signed a Memorandum of Understanding (MoU) on October 29, witnessed by JSW Chairman Sajjan Jindal and POSCO Chairman Chang In-hwa. The partnership will also explore opportunities in EV battery materials and renewable energy sectors.

(With inputs from agencies.)