Kendujhar: One more steel manufacturing plant will come up in Odisha as JSW Steel and Posco have evinced interest to set up a plant jointly in Kendujhar district.

Chief Minister Mohan Charan Majhi during his visit to the district said today, both the companies have already signed a memorandum of understanding regarding this. The MoU mentioned that both companies have entered into a joint venture to establish the steel plant in Kendujhar district.

Majhi highlighted he had held discussions with both the companies during roadshows in Delhi and Mumbai for the ‘Utkarsh Odisha: Make In Odisha 2025’ conclave. 

On October 21, Posco Group and JSW Group signed an MoU to build an integrated steel manufacturing facility in Odisha. The joint steel plant will have an annual production of five million tonnes with a possible plan for expansion.

Posco and JSW will also look for opportunities in secondary battery materials. They will make joint investments and research in their value chain. In renewable energy, the two companies will enter into partnerships and start powering the steel plant with green energy.

Also read: Posco, JSW join hands to set up steel plant in Odisha