JSW Group and POSCO to Establish Greenfield Steel Plant in Keonjhar

Odisha Chief Minister Mohan Charan Majhi announced that JSW Group, in collaboration with South Korean steel giant POSCO, will set up a greenfield steel facility in his home district of Keonjhar. This development follows speculation regarding the location of the joint venture.

During his two-day visit to Keonjhar to celebrate Diwali, Majhi disclosed that discussions about the steel plant took place during roadshows for the upcoming Make-in-Odisha conclave held in Delhi and Mumbai. He confirmed that the two companies have signed a Memorandum of Understanding (MoU) to establish the plant, which will be situated in the mineral-rich Keonjhar district.

The MoU was signed on October 29 at JSW Group's corporate headquarters in Mumbai, with prominent figures such as JSW Group Chairman Sajjan Jindal and POSCO Chairman Chang In-hwa in attendance. The planned integrated steel plant will have an initial capacity of 5 million tonnes per annum (MTPA).

Additionally, the partnership will explore collaborations in battery materials for electric vehicles (EVs) and renewable energy to meet the captive needs of the proposed facility. The Odisha government has earmarked two land parcels in Keonjhar for this purpose: one spanning 2,500 acres near Odisha Tea Plantation Ltd in the Taramakant area under the Banspal block, and another 1,956-acre site in Patna, which was initially offered to steel major ArcelorMittal.

This venture marks a renewed effort by POSCO to establish a presence in Odisha after its earlier attempt to set up a 12 million tonnes steel mill in Paradip was abandoned due to protests and regulatory challenges.

Related Stories

TIL Launches Snorkel A62JRT Boom Lift at Bauma ConExpo India 2024

TIL, India's leading material handling and infrastructure equipment manufacturer, unveiled the Snorkel A62JRT articulating boom lift at Bauma Con...

Read More

Tata Hitachi Unveils Advanced Machines at BAUMA 2025

Tata Hitachi, a pioneer in India's construction equipment industry, proudly inaugurated its pavilion at BAUMA Conexpo 2024 with an impactful show...

Read More

Iranian Oil Minister Appointed as OPEC President

Iranian Oil Minister Mohsen Paknejad has been chosen as the rotating president of the Organization of the Petroleum Exporting Countries (OPEC) fo...

Read More

Reach out to us

Call us at +91 8108603000 or

Schedule a Call Back