JSW Steel and South Korea’s POSCO Group have signed a non-binding Heads of Agreement (HoA) to explore setting up a 6 million tonnes per annum (MTPA) integrated steel plant in India.
Key Highlights of the Partnership
- Joint Venture Structure: Proposed as a 50:50 partnership between JSW Steel and POSCO.
- Location Under Consideration: Odisha is a prime candidate due to its rich natural resources and logistical advantages.
- Strategic Intent: The venture aligns with India’s Atmanirbhar Bharat vision and aims to create a globally competitive manufacturing hub for both domestic and export markets.
- Next Steps: A detailed feasibility study will be conducted to finalize the plant’s location, investment terms, and resource availability.
Why This Matters
- JSW Steel: India’s leading integrated steel producer with a capacity of 35.7 MTPA.
- POSCO Group: A global steelmaking leader from South Korea, known for its technological prowess.
- Industrial Impact: The collaboration is expected to boost India’s steel production capacity and support industrial growth, especially as global steel demand shifts toward emerging markets like India.
India is witnessing a surge in large-scale steel plant developments, with several mega projects slated for completion by 2026. These initiatives reflect the country’s strategic push toward self-reliance in steel production, infrastructure expansion, and industrial growth.
JSW Steel is spearheading a massive greenfield project in Paradip, Odisha, with an estimated investment of ₹65,000 crore. The plant will have a capacity of 13.2 million tonnes per annum (MTPA) and is designed as an integrated facility, including power generation, cement production, and port connectivity. This project is expected to significantly boost JSW’s footprint in eastern India and support downstream industries.
JSW Steel is also expanding its Dolvi plant in Maharashtra from 10.0 MTPA to 14.5 MTPA. The addition of a new blast furnace will contribute 4.5 MTPA, with commissioning expected by March 2026. This expansion complements JSW’s broader strategy to meet rising domestic demand and strengthen its coastal manufacturing base.
Besides, ArcelorMittal Nippon Steel (AM/NS India) is also expanding its Hazira plant in Gujarat from 9.0 MTPA to 15.0 MTPA. With an investment of ₹60,000 crore, the expansion includes the addition of two new blast furnaces and other critical infrastructure. The full commissioning is targeted for 2026, positioning AM/NS as one of the largest private steel producers in the country.
Jindal Steel & Power is ramping up its Angul facility in Odisha from 9.6 MTPA to 15.9 MTPA, backed by a ₹31,000 crore investment. This expansion is part of the company’s broader strategy to consolidate its presence in eastern India and enhance its export capabilities. Most of the new capacity is expected to be operational by March 2026.
In Maharashtra, Surjagad Ispat is developing a new steel plant in Gadchiroli district, a tribal region with significant mineral resources. The ₹10,000 crore project has cleared its environmental public hearing and aims to bring industrial development to a relatively underserved area. While specific capacity details are yet to be disclosed, the project is seen as a catalyst for regional growth.
JSW Steel is spearheading a massive greenfield project in Paradip, Odisha, with an estimated investment of ₹65,000 crore. The plant will have a capacity of 13.2 million tonnes per annum (MTPA) and is designed as an integrated facility, including power generation, cement production, and port connectivity. This project is expected to significantly boost JSW’s footprint in eastern India and support downstream industries.
JSW Steel is also expanding its Dolvi plant in Maharashtra from 10.0 MTPA to 14.5 MTPA. The addition of a new blast furnace will contribute 4.5 MTPA, with commissioning expected by March 2026. This expansion complements JSW’s broader strategy to meet rising domestic demand and strengthen its coastal manufacturing base.
Besides, ArcelorMittal Nippon Steel (AM/NS India) is also expanding its Hazira plant in Gujarat from 9.0 MTPA to 15.0 MTPA. With an investment of ₹60,000 crore, the expansion includes the addition of two new blast furnaces and other critical infrastructure. The full commissioning is targeted for 2026, positioning AM/NS as one of the largest private steel producers in the country.
Jindal Steel & Power is ramping up its Angul facility in Odisha from 9.6 MTPA to 15.9 MTPA, backed by a ₹31,000 crore investment. This expansion is part of the company’s broader strategy to consolidate its presence in eastern India and enhance its export capabilities. Most of the new capacity is expected to be operational by March 2026.
In Maharashtra, Surjagad Ispat is developing a new steel plant in Gadchiroli district, a tribal region with significant mineral resources. The ₹10,000 crore project has cleared its environmental public hearing and aims to bring industrial development to a relatively underserved area. While specific capacity details are yet to be disclosed, the project is seen as a catalyst for regional growth.
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