JSW Steel and South Korea’s POSCO have signed a joint venture agreement for setting up a 6 mtpa greenfield steel plant in the state of Odisha. The agreement marks a significant step towards deepening strategic collaboration between two of the world’s most respected steel companies.

JSW and POSCO have steadily built their collaborative foundation through an MoU in October, 2024 and a Heads of Agreement in July, 2025, which has now been fortified with the signing of this joint venture agreement. The proposed integrated steel project of 6 mtpa will comprise steelmaking, hot rolling, and cold rolling/coating processes. The land for the project has already been secured. The project, once commissioned, will be capable of manufacturing high-grade flat steel products for automotive and other applications. Leveraging on POSCO’s technological expertise, the joint venture’s product portfolio will complement that of JSW and provide new product opportunities in India. The project gives POSCO access to India’s high growth market and will be operational by 2031. The joint venture aims to leverage the integration with POSCO’s 1.8mtpa downstream unit in Pune, Maharashtra, to drive significant synergies.

The joint venture will deepen strategic ties between the two companies, and set the stage for future collaborations. The completion of the transaction is subject to receipt of regulatory approvals.

JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.