JSW Steel Limited has informed the Exchange regarding a press release dated August 18, 2025, titled "JSW Steel and POSCO Group Sign Heads of Agreement to Explore 6 MTPAIntegrated Steel Plant in India".
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JSW Steel and South Korea's POSCO Group have signed a non-binding Heads of Agreement (HoA) to jointly explore setting up a 6 million tonnes per annum (MTPA) integrated steel plant in India through a proposed 50:50 joint venture. This builds on the MoU signed between the two companies in October 2024 and was signed in Mumbai in the presence of senior leadership from both firms. The companies will now undertake a detailed feasibility study covering plant location, investment terms, and resource availability, with Odisha among the key locations being considered. The agreement is non-binding and final terms remain subject to feasibility and regulatory approvals. JSW Steel currently has a consolidated capacity of 35.7 MTPA, with ongoing expansions set to raise this to 43.4 MTPA over the next three years.
This is a positive, long-term capacity expansion signal for shareholders, positioning JSW Steel to potentially scale up significantly with a global technology partner, though the deal is still in preliminary stages with no committed investment yet. Near-term stock impact may be limited given the non-binding nature and pending feasibility study.