POSCO and JSW sign MoU for steel and renewable energy sector
Steel sector major JSW Group (JSW) signed a Memorandum of Understanding (MoU) with Korean firm POSCO Group (POSCO) to develop steel plants and work on battery materials and renewable energy sectors in India. As per MoU, the two firms would establish an integrated steel plant in India with an initial capacity of 5 million tonnes per annum.
The joint venture (JV) entails collaboration for renewable energy for a state-of-the-art integrated steel plant and for setting up an EV ecosystem in India, as per the statement.
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