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    • JSW Group partners with South Korean company POSCO to set up steel plant in India
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    JSW Group partners with South Korean company POSCO to set up steel plant in India

    Umito Posted on

    The two companies will also explore potential cooperation in electric vehicle (EV) battery materials and renewable energy sectors. Credit: DedMityay/Shutterstock.

    Indian conglomerate JSW Group and South Korean major POSCO have signed a memorandum of understanding (MOU) outlining a framework for the development of an integrated steel plant in India.

    The proposed integrated facility is expected to have an initial production capacity of 5 million tonnes per year.

    The steel plant aims to meet the growing demand for steel in India’s booming economy.

    The partnership is expected to strengthen India’s steel production capabilities and promote sustainable practices in both countries.

    Additionally, JSW Group and POSCO will explore potential cooperation in battery materials for electric vehicles and renewable energy sectors, the latter aimed at meeting the power needs of the new steel facility.

    JSW Group Chairman Sajjan Jindal said, “This MoU with POSCO marks an important milestone in our journey to contribute to the Indian steel industry. As one of the world’s fastest growing economies, India offers enormous opportunities for sustainable growth, and our partnership with POSCO reinforces JSW’s commitment to driving this transformation.

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    “This joint venture also involves collaboration in the field of renewable energy for a state-of-the-art integrated steel plant and for the establishment of an electric vehicle ecosystem in India. Together, we aim to set a benchmark in technology and sustainability that can shape the future of manufacturing in India and beyond.

    JSW’s strong industrial footprint and proven project management skills, combined with POSCO’s technological prowess, are expected to forge an alliance to develop solutions for the Indian steel and power sector.

    POSCO Chairman Chang In‐hwa said: “We are delighted to strengthen our ties with JSW Group. This collaboration will significantly contribute to the economic development of Korea and India and boost our joint efforts towards a more environmentally friendly and sustainable future.

    Last year, POSCO signed a memorandum of understanding with Invest Alberta to invest in lithium assets in the Canadian province of Alberta.

    Invest Alberta aims to leverage the South Korean company’s expertise to boost the lithium production process. Posco seeks to invest in the exploration, development and commercialization of lithium in Alberta.


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