India, Aug. 18 -- JSW Steel, India's leading steel producer, and South Korea's POSCO Group have signed a non-binding Heads of Agreement (HoA) to jointly explore setting up a 6 million tonnes per annum (MTPA) integrated steel plant in India. The pact marks a major step toward strengthening strategic collaboration between the two global steelmakers.
The HoA builds on the Memorandum of Understanding (MoU) signed in October 2024 and outlines the framework for a proposed 50:50 joint venture. The agreement was formalized in Mumbai in the presence of POSCO Holdings President & Representative Director Lee Ju-tae and JSW Steel Joint Managing Director & CEO Jayant Acharya.
Both companies will now undertake a detailed feasibility study to determine ...