Overview

• The companies agreed a non-binding heads of agreement to assess a 6 million tonnes per annum integrated mill, signing the document in Mumbai.
• They intend a 50:50 joint venture and will run a detailed feasibility study to finalize location, investment terms and resource arrangements, with Odisha under consideration.
• No investment amount or construction timetable has been disclosed, and any project will require feasibility outcomes, regulatory clearances and definitive agreements.
• POSCO and JSW frame the plan around strong Indian steel demand growth of roughly 9–10 percent annually and alignment with domestic manufacturing goals.
• Odisha’s chief minister said the plant will be in Keonjhar, though company statements have not confirmed a site and continue to cite ongoing evaluation.