Bhubaneswar: Odisha Chief Minister Mohan Charan Majhi announced on Friday that a new greenfield steel facility will be established in Keonjhar, through a joint venture between India’s JSW Group and South Korea’s steel major POSCO.
Addressing reporters during his Diwali visit to Keonjhar, Majhi confirmed that the project would be located in his home district, putting to rest nationwide speculation over the venture’s location.
“During our recent roadshows in Delhi and Mumbai for the upcoming Make-in-Odisha conclave, I held discussions with both JSW and POSCO about setting up a steel plant in the mineral-rich district of Keonjhar,” said Majhi.
He further shared that JSW Group and POSCO have already signed a Memorandum of Understanding (MoU), and the companies are moving forward with plans to jointly develop the project in Odisha.
The MoU was formalized on October 29 at the JSW Group’s corporate headquarters in Mumbai, in the presence of JSW Group Chairman Sajjan Jindal and POSCO Chairman Chang In-hwa.
The initial phase of the project will involve setting up an integrated steel plant with a capacity of 5 million tonnes per annum (MTPA), with both companies also exploring further collaboration in battery materials for Electric Vehicles (EVs) and renewable energy to meet the plant’s captive requirements.
The Odisha government has identified two potential land sites for the steel facility in Keonjhar. One site, measuring 2,500 acres, is located near Odisha Tea Plantation Ltd (OTPL) in the Taramakant area under the Banspal block, while another 1,956-acre plot is situated in Patna, a location previously offered to ArcelorMittal for a similar project.
This venture marks POSCO’s second attempt to establish a steel plant in Odisha. The company previously scrapped its plans for a 12 MTPA steel mill in Paradip, surrendering the land after facing local protests and regulatory challenges.
The Chief Minister’s announcement underscores Odisha’s commitment to expanding its industrial landscape, particularly in mineral-rich regions, and highlights the state’s focus on fostering major investments in steel and renewable energy sectors.
