Posco chases India dream again, thanks to IBC and rising steel capacity

The location of the new plant is not yet final, but Odisha is an option. If that happens, Posco's two-decade-long journey in India will have come full circle

South Korean steel major Posco is making a dash at setting up a steel plant in India. Yet again.

 

End-October, Sajjan Jindal-controlled JSW Group and Posco signed a memorandum of understanding (MoU) for collaboration in steel, battery materials and renewable energy sectors in India. The battery material is related to electric vehicles. The renewable energy is for captive requirements of a 5 million tonne integrated steel plant to be jointly set up by JSW Steel and Posco.

 

“Posco’s technical excellence, combined with our project execution capabilities, makes the partnership a win-win proposition,” Jayant Acharya, joint managing director and chief executive