India, Aug. 18 -- Mumbai: JSW Steel, one of India's leading steelmakers, and South Korea's POSCO Group, a global leader in steel production, have signed a non-binding Heads of Agreement (HoA) to jointly explore the establishment of a 6 million tonnes per annum (MTPA) integrated steel plant in India.

The development marks a major step toward strengthening strategic cooperation between the two industry giants. The HoA builds on a Memorandum of Understanding (MoU) inked in October 2024 and sets the broad framework for a proposed 50:50 joint venture.

The agreement was signed in Mumbai in the presence of Lee Ju-tae, Representative Director and President, POSCO Holdings, and Jayant Acharya, Joint Managing Director & CEO, JSW Steel.

As part ...