To capture rising demand in the Indian market, POSCO Group and JSW Steel have formed a joint venture to establish an integrated steelworks in Odisha. The companies inked an agreement to build a facility capable of producing 6 million tons of crude steel annually, covering molten iron production, steelmaking, and rolling.

Total project costs reach around 10.7 trillion won (US$7.3 billion), divided equally between the partners. POSCO intends to fund its half, 5.3 trillion won, partly through borrowing.

Construction is scheduled to conclude in 2031, requiring 48 months from groundbreaking. This investment positions POSCO to grow its presence in the high-value automotive steel sheet sector.