ENA Sectors 2025-08-18 16:32:20 <p><span style="font-size:14px"><strong>New Delhi, Aug 18 (KNN)</strong> JSW Steel and South Koreas POSCO Group have signed a non-binding Heads of Agreement (HoA) to explore the establishment of a 6 million tonnes per annum (MTPA) integrated steel plant in India.</span></p> <p><span style="font-size:14px">The move strengthens the partnership between the two companies, following a Memorandum of Understanding (MoU) signed in October 2024.</span></p> <p><span style="font-size:14px">The proposed project is expected to be developed as a 50:50 joint venture, combining JSWs domestic execution capabilities with POSCOs advanced steelmaking technology.</span></p> <p><span style="font-size:14px">Both companies aim to create a world-class manufacturing hub that will support Indias growing steel demand and expand its presence in global markets.</span></p> <p><span style="font-size:14px">A feasibility study will be carried out to assess critical aspects such as the plants location, required investments, raw material availability, and regulatory approvals.</span></p> <p><span style="font-size:14px">Odisha, with its rich mineral resources and strong logistics infrastructure, is seen as one of the most suitable locations for the plant.</span></p> <p><span style="font-size:14px">JSW Steels Joint Managing Director and CEO, Jayant Acharya, said the collaboration aligns with Indias vision of Atmanirbhar Bharat, aiming to boost domestic manufacturing and reduce reliance on imports.</span></p> <p><span style="font-size:14px">He added that the partnership will also generate new opportunities across the steel value chain.</span></p> <p><span style="font-size:14px">POSCO Holdings President Lee Ju-tae highlighted that India is one of the fastest-growing steel markets globally and will play a central role in future demand.</span></p> <p><span style="font-size:14px">He emphasised that the partnership reflects both companies long-term commitment to industrial growth, sustainability, and value creation in India.</span></p> <p><span style="font-size:14px">The final investment details and site location are yet to be finalised. Both companies are also exploring collaborations in emerging areas such as renewable energy and EV battery materials, which could further strengthen their partnership.</span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 43186 https://knnindia.co.in/news/newsdetails/sectors/jsw-steel-and-posco-plan-6-mtpa-integrated-steel-plant-in-india 2025-08-18 16:32:20 knnindia.co.in