India's JSW Steel approves JV with POSCO to build 6 million mt steel mill in Odisha
Release Date:
2026-04-20
The board of directors of India's JSW Steel Limited has approved a 50:50 joint venture with South Korea's POSCO Group toconstruct a greenfield 6 mllion mt per year capacity integrated steel millin the eastern state of Odisha, according to a companyregulatory filing on Monday, April 20.
The filing said that JSW Steel Limited's wholly-owned subsidiary Saffron Resources Pvt Ltd would become a 50:50 joint venturebetween JSW Steel and POSCO Group, comprising POSCO Company Limited and POSCO-India Private Limited. The transactionwill be completed by December 31, 2026.
Saffiron Resources currently possesses 887 acres of land in the state, including around 595 acres of freehold land and nearly 292acres of leasehold land, which may be utilized for the proposed steel complex, the company said.
Earier POSCO Group had proposed an investment of $12 bilion to build an integrated steel mll by itself in Odisha, but the projectwas abandoned in 2017 after years of land acquisition disputes, regulatory hurdles and local resistance.
From: Steel Orbis
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