Nearly two decades since its initial exit due to public opposition, South Korean steel giant POSCO is set to return to Odisha—this time in collaboration with JSW Group.
The duo plans to establish a 6 million tonne per annum (MTPA) integrated steel plant in Keonjhar district.
Industries Minister Sampad Charan Swain announced on Monday that the Odisha government is fully prepared to welcome POSCO and any other industrial investors interested in the state. He emphasised that Chief Minister Mohan Charan Majhi has prioritised the Keonjhar steel project, and the government will extend all necessary support.
JSW Group has already signed a Memorandum of Understanding (MoU) with POSCO for the project and expressed its commitment during the Utkal Odisha Conclave. The state government has reciprocated with assurances of cooperation and a conducive industrial environment.
Land acquisition and ancillary processes for the Keonjhar plant are being fast-tracked. The government is actively facilitating the groundwork to ensure smooth execution.
In a parallel development, the Minister revealed that Luminous will establish a battery manufacturing unit in the Aluminium Park at Angul by November. Several other industries are also expected to set up operations in the park, with the Minister personally overseeing progress.
