Overview
- A joint venture agreement announced Monday at the India–Korea Business Forum commits 10.7 trillion won with equal ownership by JSW Steel and POSCO.
- The plan calls for a 6 million tonnes per year integrated steel mill in Odisha using blast furnaces and targeting completion in 2031.
- POSCO said it will contribute about 5.3 trillion won of the total investment, and JSW said the required land in Odisha has been secured.
- The facility will span ironmaking through galvanizing and aims to pair POSCO’s low‑carbon and smart factory tools with JSW’s renewable power use.
- The transaction still needs regulatory approvals, and the effort follows POSCO’s earlier Odisha attempt that collapsed over land and clearances, a history that heightens scrutiny now.