Chief Minister Mohan Charan Majhi declared that JSW Group and POSCO, a large South Korean steel company, would work together to establish a massive steel facility in his native Keonjhar district.

Three days after the two companies signed an agreement in front of POSCO chairman Chang In-hwa and JSW Group chairman Sajjan Jindal, Majhi unveiled the idea. According to him, the move would position Odisha as one of the world's leading manufacturers of steel.

"In order to attract investors to the Utkarsh Odisha: Make-in-Odisha Conclave 2025 in January, we recently held two roadshows in Delhi and Mumbai. Regarding a steel mill in the mineral-rich Keonjhar area, I had spoken with POSCO and JSW Group. In accordance with their agreement, both parties have signed a memorandum of understanding to establish a joint venture (JV)," the chief minister said reporters at Keonjhar.

According to the chief minister, the joint venture would establish a greenfield integrated steel plant with a 5 million tonne per annum (MTPA) initial capacity. They have previously mentioned setting up the plant together. Odisha will soon have another massive steel plant thanks to the ongoing Keonjhar project.

In addition to steel, the JV seeks to promote collaboration in renewable energy and battery materials. The next project is anticipated to concentrate on hydrogen reduction ironmaking and electric furnace-based low-carbon high-grade steel manufacturing, as POSCO has established a standard in sustainable technologies and low-carbon goods.

The state administration has already selected two locations for the project, according to TNIE. Odisha Tea Plantation Ltd. (OTPL) is preparing its 1,956-acre Patna land area and its 2,500-acre Taramakant land parcel under Banspal block.

In addition to the property parcels, a few additional locations have also been examined to encourage industrialization in the area, according to Keonjhar collector Vishal Singh. Once the sites have been chosen, the district administration will handle everything necessary for faster land purchase and other statutory permissions, he stated.

Meanwhile, a high-level delegation led by the Chief Minister will visit Singapore from November 16 to 21 as part of the Utkarsh Odisha foreign investors' event. Two more roadshows are scheduled for Bengaluru and Hyderabad next month.