₹35,000 crore investment to set up 6 MTPA steel plant in Dhenkanal by 2031
JSW POSCO Odisha project
JSW has announced a major investment in Odisha. In collaboration with South Korean company POSCO, JSW Group will set up a steel plant in Dhenkanal. Notably, both companies signed the agreement at the India–Korea Business Summit held in Delhi.
During the event, Union Commerce Minister Piyush Goyal, JSW Chairman Sajjan Jindal, and POSCO Chairman Chang In-hwa witnessed the signing. Following this, the companies confirmed plans to establish a large steel plant with an annual production capacity of 6 million tonnes in Dhenkanal.
Moreover, both partners will hold equal 50% stakes in the project. They plan to invest ₹35,000 crore in total. Meanwhile, authorities have already identified the required land. The Odisha government has approved the project on thousands of acres of land in Khadag Prasad and Khurunti villages, which were previously acquired for the Lanco project.
Furthermore, the plant will primarily produce high-quality flat steel. Industries such as automobiles and electrical manufacturing will use this output extensively. Ultimately, the companies aim to make the project fully operational by 2031.
JSW POSCO Odisha project
