India’s JSW Steel announced it has signed a non-binding heads of agreement with South Korea’s Posco Group to jointly develop a 6 mln tons per annum integrated steel plant in India.
The agreement, which follows a Memorandum of Understanding (MoU) signed in October 2024, outlines the framework for a proposed 50:50 joint venture. Both companies will now conduct a detailed feasibility study to determine the plant’s location, investment requirements, resource availability, and other key factors.
According to JSW Steel, Odisha is among the prime locations under consideration, given its natural resource base and logistical advantages.