POSCO Returns to Odisha After Two Decades, Partners with JSW for Mega Steel Plant

(OT Webdesk)Nearly 20 years after its initial exit from Odisha due to public resistance, South Korean steel major POSCO is making a strategic comeback—this time through a partnership with India’s JSW Group.

The two industrial giants have signed a Memorandum of Understanding (MoU) to establish a 6 million tonne per annum (MTPA) integrated steel plant in Keonjhar district.

Odisha Industries Minister Sampad Charan Swain confirmed the state government’s full support for the venture, stating that Chief Minister Mohan Charan Majhi has prioritised the Keonjhar steel project. Land acquisition and groundwork are being fast-tracked to ensure smooth execution.

The announcement was made during the Utkal Odisha Conclave, where both POSCO and JSW reiterated their commitment to the project. The state government has promised a conducive industrial environment and active facilitation.

In a parallel development, Luminous is set to launch a battery manufacturing unit in the Aluminium Park at Angul by November, with several other industries expected to follow suit.