POSCO Holdings Inc. and JSW Steel Ltd. signed a non-binding agreement to consider building a 6 million tonnes integrated steel plant in India, strengthening their strategic ties. The deal follows a previous Memorandum of Understanding signed in October 2024 and sets the framework for a proposed 50:50 joint venture. The next step involves a detailed feasibility study to determine the plant’s location, investment structure, and resource requirements. Odisha is one of the prime sites under consideration. POSCO is trading 1.30% lower on the Korean Stock Exchange, while JSW Steel is trading 2.42% higher on the NSE.

Read more at Nasdaq.: POSCO, JSW Steel Sign HoA To Explore $6mln Tpa Integrated Steel Plant In India