Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
JSW Steel from India and POSCO SMA400CW steel from South Korea plan to jointly invest 650 billion rupees (approximately 77.3 billion US dollars) to build a steel mill in the eastern Indian state of Odisha. According to Reuters, the initial production capacity of the factory is 5 million tons of steel per year.
The cooperation agreement between JSW Steel SMA400CW steel and POSCO was signed last week. According to sources, the initial investment for the project will reach 200 billion rupees, and the factory is planned to be put into use next year. Within three years, the company's production capacity will increase to 18 million tons per year, with an estimated total investment of 7.73 billion US dollars.
It is reported that the new factory will produce hot-rolled, cold-rolled, and galvanized steel, and JSW Steel plans to invest $1 billion to decarbonize its facilities. This will help the SMA400CW steel company achieve its 2050 carbon neutrality goal, reducing carbon dioxide emissions by 42% by 2030.
