JSW Steel partners POSCO to set up 6 MTPA Odisha steel plant, strengthening capacity, technology access and domestic high-grade steel production capabilities.

Apr 17, 2026

JSW Steel has approved a 50:50 joint venture with POSCO to establish a 6 million tonne per annum (MTPA) greenfield integrated steel plant in Odisha.

The JV will be executed through Saffron Resources Private Limited, a wholly owned subsidiary of JSW Steel, which will be converted into an equal partnership. POSCO will invest around INR 508.8 crore for its stake, with the transaction expected to be completed by December 2026.

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Saffron Resources already holds 887 acres of land in Odisha, providing a ready base for the project and reducing execution timelines. The plant is expected to cater to both domestic and export markets. The partnership will enable access to advanced steelmaking technologies, particularly for high-grade automotive steel, supporting import substitution and strengthening JSW Steel’s product portfolio.