JSW Steel & POSCO sign JV for 6 MTPA Odisha steel plant
JSWSTEEL · price
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JSW Steel and South Korea's POSCO have signed a 50:50 joint venture agreement to set up a 6 MTPA greenfield integrated steel plant in Odisha. The JV will operate through Saffron Resources, JSW's wholly owned subsidiary. The project covers steelmaking, hot rolling, and cold rolling/coating, targeting high-grade flat steel for automotive use. Land is secured, with operations expected by 2031. The JV will also integrate with POSCO's existing 1.8 MTPA downstream unit in Pune for synergies. Subject to CCI and other regulatory approvals.
Strengthens JSW's growth pipeline with a marquee global partner; adds 6 MTPA capacity by 2031, boosting long-term volume and product mix.