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JSW, POSCO come together to build 5 MTPA steel plant
The Business Guardian
|October 30, 2024
JSW Group (JSW) has signed a Memorandum of Understanding (MoU) with South Korea's POSCO Group for the development of a cutting-edge, integrated steel plant in India with an initial capacity of 5 million tonnes per annum (MTPA).
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According to JSW, the agreement establishes a framework for collaboration in steel production, battery materials, and renewable energy. This collaboration comes amid India's strong economic growth, which has spurred steel demand at a rate exceeding GDP growth.
The rising need for steel, along with a rapid shift towards sustainable energy, creates a fertile ground for investment in both the renewable energy and electric vehicle (EV) sectors.
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