CapEx News
Project News,Updates,Bids & Tenders for Consultants,EPC Contactors,Industrial Suppliers & Service Providers
JSW Group, Korea's Posco partner to develop integrated steel plant in India
Metallurgical Industries - Oct 30,2024 -The JSW Group has signed a memorandum of understanding (MoU) with South Korea’s Posco Group to establish an integrated steel plant in India, the company said in an exchange filing.
This new integrated steel plant will begin with a production capacity of five million tonnes per annum (MTPA), and will focus on developing sustainable energy solutions. This move also aligns with India's broader aim to strengthen its steel and renewable energy industries.
The MoU was signed at JSW’s headquarters in Mumbai, with both JSW Chairman Sajjan Jindal and Posco Chairman Chang In-hwa present.
With the rapid pace at which the Indian economy is growing, the country’s steel demand is expected to outpace the country’s Gross Domestic Product, the company said.
The JSW Group believes that this high demand presents significant opportunities for the steel industry. Here, the JSW-Posco collaboration aims to make a substantial impact by harnessing JSW's manufacturing expertise and Posco’s advanced technology.
“This MoU with Posco marks a significant step forward in our journey to contribute to the Indian steel industry,” said Sajjan Jindal. He added that the partnership not only reinforces JSW's commitment to sustainable growth but also positions India as a leading player in advanced manufacturing and green energy initiatives.
Recent News
◉ SWELECT Energy secures over 150 MW of solar module - Mar 13,2025◉ RVNL emerges as lowest bidder for Rs 554.64 crore road contract - Mar 13,2025
◉ MoU inked for developing Multi-Modal Logistics Park in Varanasi - Mar 13,2025
◉ Danfoss India to invest Rs 1,200 crore by 2028 - Mar 13,2025
◉ SJVN to develop Rs 9,500 crore pumped storage project - Mar 13,2025
◉ JNPA signs concession agreement for Rs 285-crore agri-processing facility - Mar 13,2025
◉ Montra Electric opens e-SCV manufacturing plant in Chennai - Mar 13,2025