JSW Steel and POSCO to build steel plant in Odisha
Business
JSW Steel and South Korea's POSCO are joining forces to build a steel plant in Odisha.
They'll split ownership 50-50 by converting JSW's Saffron Resources into a joint venture, but the project still needs regulatory green lights before moving ahead.
Plant producing 6 million metric tons
The plant will make 6 million metric tons of high-grade flat steel each year, for cars and other industries, combining POSCO's tech with JSW's know-how. It's set to launch by 2031.
Investors seem excited: JSW Steel shares jumped 2.76% on April 20, closing at ₹1,274.50.