JSW Group on Tuesday 29 October announced that they have signed an Memorandum of Understanding (MoU) with POSCO Group of South Korea for establishing an integrated steel plant in India that will have a starting capacity of 5 million tonnes per annum (MTPA). 

JSW Steel announced a partnership aimed at exploring synergies in battery materials and renewable energy, according to a stock exchange filing.

The partnership’s centrepiece is a state-of-the-art integrated steel plant with an initial 5 MTPA capacity, designed to meet India’s growing steel demand, which is outpacing GDP growth.

The MoU also includes collaboration on battery materials to support EV expansion and renewable energy projects to power the steel plant. JSW Steel emphasised that its manufacturing expertise, combined with POSCO’s advanced technology, will drive innovative, sustainable solutions for India’s steel and energy sectors.

Sajjan Jindal, Chairman of the JSW Group, said, “This MoU with POSCO marks a significant step forward in our journey to contribute to the Indian steel industry. India presents tremendous opportunities for sustainable growth, and our partnership strengthens JSW’s commitment to driving that transformation. Together, we aim to set a benchmark in technology and sustainability that can shape the future of manufacturing in India and beyond.”

POSCO Chairman Chang In-hwa stated that the collaboration will play a key role in advancing economic development in both Korea and India while promoting eco-friendly and sustainable practices.

The MoU was signed at JSW’s headquarters in Mumbai, attended by JSW Group Chairman Sajjan Jindal, POSCO Chairman Chang In-hwa, and senior executives from both companies.

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