JSW, POSCO to set up Rs 35,000 crore steel plant in Odisha’s Dhenkanal
In a major boost to Odisha’s industrial landscape, JSW Group has announced a significant investment in the state in partnership with South Korean steel giant POSCO.
21 Apr 2026 11:30 IST
JSW, POSCO to set up Rs 35,000 crore steel plant in Odisha’s Dhenkanal
JSW, POSCO to set up Rs 35,000 crore steel plant in Odisha’s Dhenkanal
In a major boost to Odisha’s industrial landscape, JSW Group has announced a significant investment in the state in partnership with South Korean steel giant POSCO. The two companies have signed a joint venture agreement to establish a mega steel plant in Dhenkanal district.
The agreement was formalised at the India-Korea Business Summit held in New Delhi, in the presence of Union Commerce Minister Piyush Goyal, JSW Group Chairman Sajjan Jindal, and POSCO Chairman Chang In-hwa. The project marks a renewed phase of India-Korea industrial cooperation, particularly in the steel sector.
The proposed plant will have an annual production capacity of 6 million tonnes, making it one of the major steel manufacturing units in eastern India. Both JSW and POSCO will hold equal stakes of 50% each in the venture. The total investment in the project is estimated at around Rs 35,000 crore.
According to sources, the land required for the project has already been identified. The Odisha government has approved the use of several thousand acres of land in Khadag Prasad and Kurnti villages of Dhenkanal district. Notably, this land had earlier been acquired for the Lanco project, which did not materialise.
The upcoming steel plant will focus on the production of high-quality flat steel products. These are expected to cater to specialised sectors such as automobiles, electrical equipment, and other high-end manufacturing industries, thereby strengthening India’s domestic supply chain.
The project is expected to generate significant employment opportunities, both directly and indirectly, and contribute to the economic growth of the region. It also aligns with Odisha’s vision of becoming a leading industrial hub in India.
The companies have set a target to make the plant fully operational by 2031. Once completed, the project is likely to play a crucial role in boosting steel production capacity and attracting further investments to the state.
OdishaDhenkanalposcojsw kharagprasad (JANTADARBAR)
