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.

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.

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,

POSCO made another attempt to set up an integrated steel plant in Andhra Pradesh through its partnership with Rashtriya Ispat Nigam (RINL) in 2019.

The partnership will focus on setting up an 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.

The two companies will first set up a 5 million tonnes per annum (MTPA) integrated steel unit with provisions for capacity expansion, JSW Steel said.

Mumbai/IBNS: JSW Steel has entered into a strategic partnership with South Korea’s POSCO to collaborate on steelmaking, electric vehicle (EV) batteries, and renewable energy initiatives.

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).