Posco Seeks JSW Alliance for 5 Million Tons India Steel Mill
- JSW, Posco plan to collaborate on renewable energy, batteries
- India’s steel demand forecast to grow 6% annually through 2035
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JSW Group and South Korea’s Posco Group plan to build a clean energy-powered steel mill in India starting with 5 million tons a year capacity, the Mumbai-based conglomerate said Tuesday.
The two groups signed an initial accord to jointly set up the steel factory, according to an exchange filing by the Indian company. The groups will also collaborate to produce renewable energy for the proposed steel plant and to make battery materials for electric vehicles.