JSW Steel and South Korea’s POSCO Group have signed a non-binding heads of agreement (HoA) to establish a 6 million tonne per annum integrated steel plant in India.
Aug 18, 2025
JSW Steel and South Korea’s POSCO Group have signed a non-binding heads of agreement (HoA) to establish a 6 million tonne per annum integrated steel plant in India. The pact builds on the memorandum of understanding (MoU) signed in October 2024, which laid out a 50:50 joint venture framework between the two companies.
The HoA was formalized in Mumbai in the presence of Mr Lee Ju-tae, President of POSCO Holdings, and Mr. Jayant Acharya, Joint Managing Director & CEO of JSW Steel. As part of the agreement, both firms will undertake a detailed feasibility study to finalize the plant’s location, investment structure, and resource requirements.
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Commenting on the development, Mr. Acharya said the collaboration will combine JSW’s execution expertise with POSCO’s technological strengths in steelmaking. Mr. Lee Ju-tae emphasized that India will play a central role in the future of global steel demand, adding that the partnership is anchored in mutual trust and a shared long-term vision.
