JSW Steel, India, and South Korea’s POSCO, both leaders in steel production globally, have signed a joint venture agreement for setting up a 6 mtpa greenfield steel plant in the state of Odisha.
The agreement marks a significant step towards deepening strategic collaboration between two of the world’s most respected steel companies. The announcement was made at the India-Korea Business Forum in New Delhi, in the august presence of Shri Piyush Goyal, Hon’ble Minister of Commerce & Industry, Government of India, H.E. Mr. Jung-Kwan Kim, Hon’ble Minister of Industry, Trade and Resources of the Republic of Korea, Mr. Sajjan Jindal, Chairman, JSW Group and Mr. Chang In-Hwa, Chairman, POSCO and senior executives from both companies.
JSW and POSCO have steadily built their collaborative foundation through an MoU in October, 2024 and a Heads of Agreement in July, 2025, which has now been fortified with the signing of this joint venture agreement.
The proposed integrated steel project of 6 mtpa will comprise steelmaking, hot rolling, and cold rolling/coating processes. The land for the project has already been secured.
Link to press release