JSW Group (JSW), one of India’s fastest-growing conglomerates, has signed a Memorandum of Understanding (MoU) with Korea’s POSCO Group (POSCO) to establish a framework for collaboration in the steel, battery materials, and renewable energy sectors in India.
This partnership aims to develop an integrated steel plant with an initial capacity of 5 million tonnes per annum (MTPA), capitalizing on India’s robust economic growth and rising steel demand.
Additionally, the two groups will explore opportunities in battery materials for electric vehicles (EVs) and renewable energy solutions to meet the plant’s requirements. Combining JSW’s strong manufacturing capabilities and project execution with POSCO’s technological expertise, this collaboration aims to foster innovative solutions for India’s steel and energy sectors.
The MoU was signed in Mumbai, attended by key executives from both companies. JSW Chairman Mr. Sajjan Jindal highlighted the significance of this partnership for sustainable growth in India, while POSCO Chairman Mr. Chang In-hwa expressed enthusiasm for strengthening economic ties between the two nations.