South Korean steel and chemicals group Posco Holdings Inc. and Indian industrial conglomerate JSW Group this week signed a preliminary agreement to collaborate on expanding India’s steel industry and developing the country’s electric vehicle (EV) battery supply chain and renewable energy sector, according to local reports.

India's JSW Steel said on Tuesday it has signed a preliminary agreement with South Korea's steel major POSCO to set up an integrated steel plant with an initial capacity of 5 million metric tons a year.

Posco and JSW Group plan to partner for a new steel plant in India with a five-million-tonne annual capacity. They will explore ventures in EV battery

The proposed integrated steel plant is expected to have an initial production capacity of five million tonnes per annum (mtpa).

South Korean steelmaker Posco Group said Tuesday it plans to establish a comprehensive steel manufacturing facility in India in partnership with Indian steel giant JSW Group. The facility will incorporate core processes -- ironmaking,

Moreover, the two groups will explore collaboration in battery materials related to electric vehicles (EVs) and renewable energy to meet the requirements of the proposed unit

Incidentally, the Jagatsinghpur site on which the proposed 5 MTPA steel unit is likely to be set up was the same site that POSCO had evacuated in 2017 after protests by locals. The site was soon awarded to JSW Steel.

JSW Group (JSW) has signed a Memorandum of Understanding (MoU) with South Korea’s POSCO Group for the development of a cutting-edge, integrated steel plant in India with an initial capacity of 5 million tonnes per annum (MTPA).

( MENAFN - KNN India) New Delhi, Oct 29 (KNN) JSW Group and South Korea's POSCO Group have entered into a strategic partnership through a Memorandum of Understanding (MoU) signed on Tuesday, marking a significant collaboration in steel production, battery materials, and renewable energy sectors in India.

POSCO Group is making another attempt to establish a steel plant in Odisha (formerly Orissa), India. South Korea’s leading steelmaker previously made four separate attempts to construct a steel plant in the city since 2005,

JSW Group and South Korea’s Posco Group will build an integrated steel factory in India with an initial capacity of 5 million tons a year.