JSW Steel and POSCO Form Strategic Partnership for Major Steel Expansion
JSW Steel and South Korea's POSCO have announced a joint venture to establish a 6 million tonnes per annum steel manufacturing plant in Odisha, marking a significant milestone in India's steel sector development. This strategic partnership combines JSW Steel's domestic expertise and market presence with POSCO's advanced technological capabilities and global operational experience.
The proposed facility will be constructed in Odisha, India's premier steel production hub, which already hosts numerous major steel manufacturers. The 6 MTPA capacity addition represents substantial growth for JSW Steel, strengthening its competitive position against rivals like Tata Steel and Steel Authority of India Limited.
This joint venture demonstrates renewed confidence in India's steel market amid global economic uncertainties.
