JSW Steel and POSCO have announced a joint venture to establish a massive Rs 65,000 crore steel plant in Dhinkia, located in the Jagatsinghpur district of the state. This project is set to become one of the largest investments in the region’s industrial sector.

The proposed plant will have a capacity to produce 12 million tonnes of steel annually and is expected to generate thousands of jobs, both directly and indirectly. The new steel plant will help bolster the state’s position as a key player in India’s steel manufacturing industry.

The announcement comes after both companies reached a comprehensive agreement, which includes environmental and community development initiatives. The project is also expected to have a positive impact on the local economy, with various downstream industries benefiting from the steel production.

Local authorities have expressed strong support for the project, highlighting its potential to drive growth and infrastructure development in the region. With its strategic location, the new plant will also play a crucial role in enhancing India’s steel export capabilities.

JSW Steel and POSCO, both leading players in the global steel industry, are confident that this collaboration will strengthen their market presence and contribute to the nation's growth, aligning with India’s vision of becoming a global manufacturing hub.