Overview

• The accord was endorsed in Mumbai by POSCO Holdings President Lee Ju-tae and JSW Steel CEO Jayant Acharya, marking a milestone in POSCO’s bid to establish upstream capacity in India.
• Odisha has been shortlisted as the likely region for the facility because of its abundant iron ore and coal reserves and strong logistics infrastructure.
• The agreement follows an October 2024 MOU on steelmaking and battery materials and signals deeper industrial collaboration between the two groups.
• The partners will conduct detailed feasibility studies and seek local government approvals before finalizing site selection, investment levels and construction timelines.
• The mill is aimed at serving India’s rapidly growing steel market, where consumption has increased roughly 9–10% annually over the past three years.