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JSW Group, POSCO Ink MoU to Develop 5 MTPA Integrated Steel Plant

JSW Group has signed a memorandum of understanding (MoU) with Korea's POSCO Group to establish an integrated steel plant in India with an initial capacity of five MTPA. The MoU was signed in the presence of JSW Group Chairman Sajjan Jindal, POSCO Chairman Chang In-hwa, and senior executives from both the business houses in Mumbai.

 

The partnership will focus on establishing a framework for collaboration in the areas of battery materials related to electric vehicles (EVs), and renewable energy which would further meet the captive requirements of the proposed integrated steel plant.

 

The collaboration is expected to boost India’s steel production capacity and advance sustainability efforts in both countries, with the objective to set a benchmark in technology.

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