JSW Steel Board Approves Proposal to Sign Pact with POSCO for JV
In April 2026, JSW Steel Limited’s Board approved a proposal to form a Joint Venture (JV) with South Korea’s POSCO Group to set up a 6 Million Tonnes Per Annum (MTPA) integrated steel plant in Odisha.
In April 2026, JSW Steel Limited’s Board approved a proposal to form a Joint Venture (JV) with South Korea’s POSCO Group to set up a 6 Million Tonnes Per Annum (MTPA) integrated steel plant in Odisha.
- The proposed JV is expected to strengthen strategic relations between the two steel makers.
Key Details:
50:50 JV: Both entities will sign a share subscription and JV agreement under which Saffron Resources Private Limited, a wholly-owned subsidiary of JSW Steel, will become a 50:50 JV between JSW Steel and POSCO Group through subscription arrangement.
Equity Shares Subscription: As part of the arrangement, POSCO Group will acquire equity shares of Saffron Resources for a consideration value of nearly Rs 508.8 crore, subject to closing adjustments.
Timeline: The transaction is expected to be completed by December 31, 2026, which may be extended by mutual agreement.
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