Wedoany.com Report-Aug. 18, JSW Steel, India’s largest steelmaker by market capitalization, and South Korea’s POSCO announced a partnership to explore establishing a new integrated steel plant in India. The proposed facility, with a capacity of 6 million tonnes per annum (MTPA), is under consideration, with Odisha state identified as a key potential location, though final details on the site and financial aspects are yet to be confirmed.

A man walks past the JSW Steel stall at the India Steel 2025 Conference in Mumbai, India, April 25, 2025.

This collaboration builds on a previous agreement between the two companies in 2024 to develop another integrated steel plant in Odisha, with an initial capacity of 5 MTPA. In November 2024, Reuters reported that the companies planned to invest approximately 650 billion rupees ($7.44 billion) in that project. The new initiative reflects their ongoing commitment to expanding steel production capacity in India to meet growing industrial demand.

In addition to steel production, JSW Steel and POSCO have expressed interest in exploring opportunities in battery materials for electric vehicles and renewable energy projects. This aligns with efforts to support sustainable technologies and contribute to India’s clean energy goals.

“We are excited to deepen our partnership with POSCO to explore this new steel plant, which will enhance our capacity to serve India’s growing market,” said a JSW Steel spokesperson. “This collaboration also opens doors for innovation in sustainable materials and energy solutions.”

The potential Odisha plant is expected to strengthen India’s steel industry by increasing domestic production capacity and supporting infrastructure development. The partnership leverages POSCO’s advanced technological expertise and JSW Steel’s market leadership to address rising demand in various sectors.

“This collaboration is a step toward meeting the increasing need for high-quality steel in India,” said a POSCO representative. “We look forward to combining our strengths to deliver sustainable and innovative solutions.”

The initiative underscores the strategic importance of Odisha as a hub for industrial growth, with its favorable location and resources. By expanding their collaboration, JSW Steel and POSCO aim to contribute to India’s economic development while exploring opportunities in emerging sectors like electric vehicle battery materials and renewable energy. Further details on the project’s timeline and investment will be announced as plans progress.