+
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
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code