JSW Steel and POSCO Form Landmark Joint Venture to set up 6 MTPA Integrated Steel Plant in India

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. The project, once commissioned, will be capable of manufacturing high-grade flat steel products for automotive and other applications. Leveraging on POSCO's technological expertise, the joint venture's product portfolio will complement that of JSW and provide new product opportunities in India. The project gives POSCO access to India's high growth market and will be operational by 2031. The joint venture aims to leverage the integration with POSCO's 1.8mtpa downstream unit in Pune, Maharashtra, to drive significant synergies.

The joint venture will deepen strategic ties between the two companies, and set the stage for future collaborations. The completion of the transaction is subject to receipt of regulatory approvals.

Mr. Jayant Acharya, Joint Managing Director & CEO, JSW Steel, said, "This joint venture with POSCO reflects our strong belief in India's long-term growth story. The partnership will ensure alignment of our vision and commitment, while leveraging POSCO's technological expertise and JSW's strengths in project execution and cost leadership. We see this as a significant step towards strengthening India's steel ecosystem and supporting the nation's industrial value chain."

Mr. Lee Hee-geun, President, POSCO, said, "Through this joint venture, we will do our utmost to combine POSCO's innovative steel technology with JSW Group's strong local competitiveness, making a meaningful contribution not only to future value creation but also to the industrial development and economic growth of both nations."

Shares of JSW Steel Limited was last trading in BSE at Rs. 1274.85 as compared to the previous close of Rs. 1239.90. The total number of shares traded during the day was 69116 in over 4069 trades.

The stock hit an intraday high of Rs. 1279.00 and intraday low of 1233.30. The net turnover during the day was Rs. 87147802.00.

Source : Equity Bulls

Keywords

JSWSteel INE019A01038 POSCO JVAgreement