JSW Steel and POSCO Group executed a Share Subscription and Joint Venture Agreement to form a 50:50 joint venture for a 6 MTPA integrated steel plant in Odisha.
The project, subject to regulatory approvals including from CCI, will manufacture high-grade flat steel products for automotive applications and target operational readiness by 2031.
The joint venture leverages POSCO's technological expertise and JSW's project execution strengths, with land already secured for the plant.