JSW Steel Limited has informed the Exchange about Joint Venture Agreement between JSW Steel Limited and POSCO Group through which Saffron Resources Private Limited, a wholly owned subsidiary of the Company would become a 50:50 Joint Venture between the Company and POSCO Group
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JSW Steel has entered into a Share Subscription and Joint Venture Agreement with POSCO Group (POSCO Co., Ltd and POSCO-India Private Limited). Under this deal, JSW's wholly owned subsidiary Saffron Resources Private Limited will become a 50:50 joint venture entity. POSCO Group will subscribe to shares in Saffron for approximately INR 508.8 crore. The joint venture plans to set up a greenfield 6 MTPA integrated steel plant in Odisha. Saffron possesses 887 acres of land in Odisha (595 acres freehold and 292 acres leasehold) for the project. The transaction is expected to close by December 31, 2026. The partnership gives JSW access to POSCO's technology for manufacturing high-grade steel products for automotive and other applications.
This marquee JV with one of the world's most competitive steelmakers strengthens JSW's strategic position and provides technology access for high-grade steel production. The INR 508.8 crore investment by POSCO validates Saffron's assets and supports JSW's growth toward its 50 MTPA India capacity target by FY31.