JSW Steel, Posco look at 50:50 joint venture for steel plant in India

JSW Group and Posco have signed an agreement to set up a steel plant with an initial capacity of 5 mtpa in India

JSW Steel, the flagship company of the Sajjan Jindal Group, and South Korea’s Posco will have an equal share in the proposed steel venture in India with an initial capacity of 5 million tonnes per annum (mtpa).

 

On Tuesday, the JSW Group and Posco announced a collaboration in steel, battery materials, and renewable energy in India. The renewable energy is for captive use of the steel plant.

 

Jayant Acharya, joint managing director and chief executive officer of JSW Steel, told Business Standard that the cooperation would bring two major steel producers together.

 

“A 50:50 joint venture between JSW Steel and