+
POSCO Group, JSW Steel Sign HoA to Explore 6 MTPA Steel Plant in India
Steel

POSCO Group, JSW Steel Sign HoA to Explore 6 MTPA Steel Plant in India

POSCO Group, South Korea’s global leader in steel production, and India’s leading steelmaker JSW Steel have signed a non-binding Heads of Agreement (HoA) to jointly explore the establishment of a 6 million tonnes per annum (MTPA) integrated steel plant in India. The agreement represents a significant step in strengthening collaboration between the two companies. 

The HoA builds on a Memorandum of Understanding (MoU) signed in October 2024 and outlines the framework for a proposed 50:50 joint venture. It was signed in Mumbai in the presence of Lee Ju-tae, Representative Director and President, POSCO Holdings, and Jayant Acharya, Joint Managing Director & CEO, JSW Steel. 

Both companies will now conduct a detailed feasibility study to assess location, investment, resource availability and other key factors. Odisha, with its natural resource base and logistical advantages, is among the potential sites being evaluated. 

Lee Ju-tae, Representative Director and President, POSCO Holdings, said, 
 “India is central to the future of global steel demand. Our collaboration with JSW is based on mutual trust and a shared long-term vision. This initiative represents our commitment to supporting India’s industrial growth while creating long-term value for both organisations.” 

Jayant Acharya, Joint Managing Director & CEO, JSW Steel, said, 
 “This partnership brings together POSCO’s technological leadership in steelmaking and JSW’s proven execution capabilities and strong domestic footprint. The proposed venture aligns with India’s vision of Atmanirbhar Bharat and will help create a globally competitive manufacturing hub to serve both domestic and export markets.” 
 

Photo caption: POSCO Group and JSW Group sign a Heads of Agreement (HoA) for business collaboration. From left: Arun Maheshwari, Director, JSW Group; Jayant Acharya, Joint Managing Director & CEO, JSW Steel; Lee Ju-tae, President, POSCO Holdings; and Shin Sung-won, Head of Corporate Strategy Division, POSCO. 
 

POSCO Group, South Korea’s global leader in steel production, and India’s leading steelmaker JSW Steel have signed a non-binding Heads of Agreement (HoA) to jointly explore the establishment of a 6 million tonnes per annum (MTPA) integrated steel plant in India. The agreement represents a significant step in strengthening collaboration between the two companies. The HoA builds on a Memorandum of Understanding (MoU) signed in October 2024 and outlines the framework for a proposed 50:50 joint venture. It was signed in Mumbai in the presence of Lee Ju-tae, Representative Director and President, POSCO Holdings, and Jayant Acharya, Joint Managing Director & CEO, JSW Steel. Both companies will now conduct a detailed feasibility study to assess location, investment, resource availability and other key factors. Odisha, with its natural resource base and logistical advantages, is among the potential sites being evaluated. Lee Ju-tae, Representative Director and President, POSCO Holdings, said,  “India is central to the future of global steel demand. Our collaboration with JSW is based on mutual trust and a shared long-term vision. This initiative represents our commitment to supporting India’s industrial growth while creating long-term value for both organisations.” Jayant Acharya, Joint Managing Director & CEO, JSW Steel, said,  “This partnership brings together POSCO’s technological leadership in steelmaking and JSW’s proven execution capabilities and strong domestic footprint. The proposed venture aligns with India’s vision of Atmanirbhar Bharat and will help create a globally competitive manufacturing hub to serve both domestic and export markets.”  Photo caption: POSCO Group and JSW Group sign a Heads of Agreement (HoA) for business collaboration. From left: Arun Maheshwari, Director, JSW Group; Jayant Acharya, Joint Managing Director & CEO, JSW Steel; Lee Ju-tae, President, POSCO Holdings; and Shin Sung-won, Head of Corporate Strategy Division, POSCO.  

Related Stories

Gold Stories

Next Story
Products

Interio by Godrej launches modular workplace solutions

Interio by Godrej has launched Workscapes, a modular workplace solutions category designed to help organisations configure and adapt workspaces to changing requirements. The portfolio combines mobile and compatible furniture and support elements that can be rearranged across different work modes without changes to fixed layouts.Workscapes includes Collaboration Tables, Privacy Solutions, Mobile Markerboards and Space Dividers, Power Solutions, Storage and Support Elements, Meeting and Presentation Tools, and Seating Elements. The range is designed for focused work, collaboration, informal disc..

Next Story
Infrastructure Urban

CAFE-III Gives Auto Industry Investment Clarity

The government’s new Corporate Average Fuel Economy (CAFE-III) norms have provided the automobile industry with a clearer framework for technology investments, according to industry representatives. The framework seeks to balance environmental objectives with flexibility for manufacturers while encouraging the adoption of flex-fuel vehicles and biofuels. Society of Indian Automobile Manufacturers (SIAM) President Shenu Agarwal said the five-year framework would give automakers greater predictability to plan investments and accelerate innovation. He said the regulation established annual targ..

Next Story
Infrastructure Energy

Mines Ministry to Auction Two Offshore Mineral Blocks in Andaman Sea

The Ministry of Mines will launch an auction of two offshore mineral blocks in the Andaman Sea on Thursday, seeking to unlock India’s offshore mineral potential and strengthen long-term mineral resource security. The blocks will be offered under a composite licence, which permits exploration and development activities in accordance with the applicable regulatory framework. The ministry said the auction was intended to encourage systematic exploration, attract investment and promote the use of advanced technologies for offshore mineral exploration and development. The initiative is also aimed..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code