Bhubaneswar: Chief Minister Mohan Charan Majhi confirmed on Friday that a major steel plant is to be established in Keonjhar district through a joint venture between JSW Group and South Korean company Posco.
“During the Utkarsha Odisha 2025 roadshows in Delhi and Mumbai, I had discussions with JSW and Posco. Subsequently, they signed an MoU to establish an integrated steel plant, which they have decided to set up jointly in Keonjhar. It’s currently in the pipeline and is expected to materialize,” said Majhi, who is visiting Keonjhar for a two-day Diwali celebration, to the press.
On Tuesday, the two corporations revealed their intention to construct an integrated steel plant in India. They also plan to collaborate on green energy production and the creation of battery materials for electric vehicles (EVs). The MoU was signed on October 21 in Mumbai, witnessed by Posco Chairman and CEO Chang In-hwa and JSW Group Chairman Sajjan Jindal.
Reportedly, two land parcels have been earmarked for the upcoming project: approximately 2,500 acres near Odisha Tea Plantation Ltd (OTPL) in the Taramakant area of Banspal block, and another 1,956 acres at Patna, initially reserved for ArcelorMittal. “The OTPL land survey is complete. After a high-level joint venture team’s visit, one of the two sites will be chosen for the steel plant. If all proceeds smoothly, an MoU is expected to be signed at the Utkarsh Odisha: Make-in-Odisha Conclave 2025 this January,” revealed a source to The New Indian Express.
This marks the second attempt by the South Korean steel giant to establish a steel plant in Odisha. Previously, the company abandoned its plan for a 12-million-tonne steel mill in Paradip due to public opposition and regulatory challenges.
Additionally, on October 30, Industries Minister Sampad Chandra Swain mentioned that a number of industries are keen to invest in Odisha with the recent change in government.
