Posco's Triumphant Return: A New Chapter in Odisha's Industrial Saga

In a major industrial development, South Korean steel giant Posco is set to make a grand return to the Indian state of Odisha, two decades after originally abandoning a project due to local opposition. Teaming up with the JSW Group, Posco plans to establish a cutting-edge greenfield plant, a move confirmed by Additional Chief Secretary of Industries, Hemant Sharma.

The announcement, made during the South Korean President's visit to India, indicates plans for two major projects—a 6 million tonnes per annum (mtpa) plant in Keonjhar district and another 5 mtpa facility in Dhenkanal district. Odisha's government has committed to providing the necessary logistics and land to facilitate these industrial setups.

This strategic partnership was formalized at the India-Korea Business Summit in New Delhi, which saw the participation of prominent figures like Union Commerce Minister Piyush Goyal and JSW Group Chairman Sajjan Jindal. The joint venture is projected to bring an investment of Rs 35,000 crore and promises to significantly bolster employment and economic development in the region.

(With inputs from agencies.)