Overview

• Under updated terms, POSCO and JSW set capacity at 6 million tons per year for the joint venture, with a 50:50 investment split.
• Odisha state is under consideration for the plant site due to its abundant coal and iron-ore deposits, with final location to be decided after feasibility studies.
• Binding agreement will follow once project details are settled and Odisha government approvals are secured.
• The heads of agreement build on an October 2024 MOU on steelmaking and battery materials as part of POSCO’s broader globalization strategy.
• Neither company disclosed a construction timetable or capital expenditure for the proposed facility at this stage.