POSCO Holdings and JSW Steel have announced an equal joint venture to develop a fully integrated steel manufacturing facility in Odisha, targeting an initial crude steel capacity of 6 million tonnes per annum. The multi-billion-dollar greenfield project will span the full production chain, from raw material handling and ironmaking through to finished steel, with a focus on high-grade output for automotive, infrastructure, and advanced engineering applications. Completion is targeted by 2031.
Odisha’s iron ore reserves, established logistics networks, and favourable industrial policy environment make it a strategic fit for the venture. For POSCO, the partnership represents a renewed commitment to India following earlier unsuccessful attempts to establish a domestic footprint, this time anchored by JSW Steel’s entrenched market presence and distribution strength.
The deal positions both partners to capitalise on India’s accelerating steel demand, driven by rapid urbanisation and large-scale infrastructure investment, while giving JSW Steel access to POSCO’s advanced steelmaking technologies to push further into higher-value product segments.
