JSW Steel, POSCO form joint venture to set up 6 mtpa steel plant in Odisha
JSW Steel and POSCO have formed a 50:50 joint venture to set up a 6 mtpa integrated steel plant in Odisha, India. The project is expected to be completed by December 31, 2026, and will create around 8,000 direct and indirect jobs.
JSW Steel Ltd has formed a 50:50 joint venture with POSCO Group to establish a 6 mtpa integrated steel plant in Odisha. The proposed steel complex will utilize 887 acres of land in the state, with POSCO Group subscribing to shares worth around Rs 508.8 crore. The project is expected to be completed by December 31, 2026, and will create around 8,000 direct and indirect jobs. The joint venture combines India's largest steelmaker by market capitalization with one of the world's most technologically advanced steel producers. The project reinforces Odisha's emergence as India's steel capital, backed by abundant iron ore reserves. The alliance will deepen strategic ties between the two steel producers and help secure access to advanced technology for manufacturing high-grade steel products.
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