POSCO, JSW ink MoU to build steel plant in India

As part of their newly signed Memorandum of Understanding (MoU) for cooperation in steel, rechargeable battery materials, and renewable energy, South Korea's POSCO Holdings and Indian steel giant JSW Steel will jointly build an integrated steel mill in India, the two companies have announced.

The plant, expected to be established in Odisha, Eastern India, will have an initial production capacity of 5 million tonnes/year with plans for a possible expansion later. Both companies would each contribute half of the investment, Korean media reports say, though the total cost was not estimated. The MOU signing