Mutual Funds Sahi Hai!
To avail the service, you will be redirected to loans.geojitcredits.com
JSW Steel and South Korea's POSCO Group, a global leader in steel production, have signed a non-binding Heads of Agreement (HoA) to jointly explore setting up a 6 million tonnes per annum (MTPA) integrated steel plant in India. The agreement marks a significant step toward deepening strategic collaboration between two of the world's most respected steel companies.
This HoA builds on the Memorandum of Understanding (MoU) signed by both parties in October 2024 and outlines the broad framework for the proposed 50:50 joint venture.
As part of the next steps, JSW and POSCO will undertake a detailed feasibility study to finalize the plant's location, investment terms, resource availability, and other critical factors. Given its natural resource base and logistical advantages, Odisha is among the key locations being considered.
As part of the next steps, JSW and POSCO will undertake a detailed feasibility study to finalize the plant’s location, investment terms, resource availability, and other critical factors. Given its natural resource base and logistical advantages, Odisha is among the key locations being considered.
Jayant Acharya, Joint Managing Director & CEO, JSW Steel, said, “This partnership brings together JSW’s proven execution capabilities and strong domestic footprint with POSCO’s technological leadership in steelmaking. The proposed venture aligns with India’s vision of Atmanirbhar Bharat and will help create a globally competitive manufacturing hub to serve both domestic and export markets.”
Lee Ju-tae, Representative Director and President, POSCO Holdings, added, “India is central to the future of global steel demand. Our collaboration with JSW is based on mutual trust and a shared long-term vision. This initiative represents our commitment to supporting India’s industrial growth while creating long-term value for both organizations.
JSW Steel is the flagship business of the diversified, US$ 23 billion JSW Group. As one of India's leading business houses, JSW Group also has interests in energy, infrastructure, cement, paints, realty, e-platforms, mobility, defence, sports, and venture capital.
The company reported a 158.46% year-on-year (YoY) increase in consolidated net profit to Rs 2,209 crore for the quarter ended 30 June 2025, compared to Rs 867 crore in the corresponding period last year. Revenue from operation rose 0.47% year on year to Rs 43,147 crore in the quarter ended 30 June 2025.
JSW Steel reported consolidated Crude Steel production for the month of July'25 at 26.23 lakh tonnes. The total Crude Steel production was higher by 19% YoY.
Capacity utilisation at Indian Operations stood at 92.5% for July'25.
The break-up of production is as below: (Lakh Tonnes)
Particulars
Jul-25
Jul-24
% Change
25.52
21.4
19%
0.72
0.75
Consolidated Production
26.24
22.15
The manufacturing pact would be executed through their joint venture (JV) entities, viz. JSW JFE Electrical Steel at Vijayanagar, Karnataka, and JSW JFE Electrical Steel Nashik, Maharashtra.
The capacity of the Karnataka plant would be increased to 100,000 tons per annum (TPA) from the earlier plan of 62,000 tons per annum. It is scheduled for commissioning by FY2028.
The production capacity of the Maharashtra-based plant would be expanded five-fold to 250,000 tons per annum and it is for phased commissioning from FY2028.
The two partners will jointly invest approximately Rs 5,845 crore towards this expansion.
This capital investment along with the previously announced investments at Vijayanagar facility and the acquisition of the Nashik facility would take the overall investments to Rs 15,560 crore.
JSW Steel stated that this expansion aims to address the rapidly growing domestic demand for high-efficiency electrical steel, especially in the renewable energy, energy transition for decarbonization, e-mobility, AI data center, etc.
Jayant Acharya, joint managing director & CEO, JSW Steel, said: “India’s green energy transformation, decarbonization and digital infrastructure development are triggering large demand for high-grade electrical steel.
Our GOES investment is a critical step in enabling import substitution, supporting India’s energy transition goals, and delivering high-efficiency electrical steel solutions to the domestic and global markets.'
JSW Steel is the flagship business of the diversified, US$ 23 billion JSW Group. As one of India’s leading business houses, JSW Group also has interests in energy, infrastructure, cement, paints, realty, e-platforms, mobility, defence, sports, and venture capital.
JSW Steel in strategic collaboration with its Japanese partner JFE Steel Corporation, today announced a significant expansion of manufacturing capacity for grain-oriented electrical steel (GOES) through their joint ventures – JSW JFE Electrical Steel at Vijayanagar, Karnataka, and JSW JFE Electrical Steel Nashik, Maharashtra.
Key Highlights of the Expansion Plan:
• Vijayanagar Plant (Karnataka): Capacity to be increased to 100,000 tons per annum from the earlier plan of 62,000 tons per annum. Scheduled for commissioning by FY2028.
• Nashik Plant (Maharashtra): Production capacity to expand five-fold to 250,000 tons per annum for phased commissioning from FY2028.
• Strategic Outcome: Strengthens JSW JFE's position as India's leading integrated GOES producer