JSW Steel, POSCO to Set up 6 MTPA Steel Plant in Odisha
The greenfield project will include steelmaking, hot rolling, and cold rolling/coating facilities, with land already secured at Paradip
New Delhi/Bhubaneswar: JSW Steel and POSCO have entered into a joint venture to set up a 6 million tonnes per annum (MTPA) integrated steel plant in Odisha, adding fresh capacity to India’s expanding steel production base.
The agreement, signed at the India-Korea Business Forum in New Delhi, was witnessed by Union Commerce and Industry Minister Piyush Goyal and South Korea’s Industry Minister Jung-Kwan Kim, along with senior executives from both companies.
The greenfield project will include steelmaking, hot rolling, and cold rolling/coating facilities, with land already secured at Paradip. The plant is expected to be commissioned by 2031, subject to regulatory clearances, and will manufacture high-grade flat steel for automotive and other value-added segments.
The partnership builds on earlier agreements between the two companies and will combine POSCO’s technological expertise with JSW Steel’s project execution capabilities. Operational synergies are also expected through integration with POSCO’s downstream facility in Pune.
From a capacity standpoint, the addition of 6 MTPA—while modest in isolation—fits into a broader pipeline of expansions that are steadily pushing India towards its long-term target of 300 MTPA steel capacity by 2030. The project also reflects a strategic shift towards higher-grade steel production, aligning with evolving demand from the automotive and manufacturing sectors.
Jayant Acharya, Joint Managing Director and CEO of JSW Steel, said the venture reinforces confidence in India’s growth trajectory and will strengthen the domestic steel ecosystem. Lee Hee-geun, President of POSCO, said the collaboration would blend innovation with local competitiveness to create long-term value.
The JV is expected to further consolidate Odisha’s position as a key steel hub, even as India continues to attract global partnerships to scale up capacity and upgrade product quality.
