Bhubaneswar: Keonjhar district in Odisha may soon house a major steel plant, with JSW Steel and South Korea’s POSCO likely to collaborate on the project. Odisha Industries Minister Sampad Chandra Swain indicated this possibility during his visit to Angul on Monday.

The Minister’s remarks came at a time when reports suggest that JSW Steel and POSCO have signed an agreement to set up a six-million-tonne integrated steel plant in India, with Odisha emerging as the preferred destination.

Speaking after reviewing various industrial projects in Angul, Swain said that many companies are showing interest in Odisha after the formation of the new government. He credited the state’s investor-friendly industrial policies for attracting major companies to choose Odisha as their first option.

JSW Steel had earlier signed an MoU with the state government during the Utkarsh Odisha Conclave to establish a six-million-tonne capacity steel plant in Keonjhar. Land acquisition and related groundwork for the proposed project are already in progress. Both JSW Steel and POSCO have expressed that Odisha is their top choice for the project, he said.

Swain assured that the state government is ready to extend full cooperation to any company willing to invest in Odisha.

Notably, JSW Steel and POSCO Group have signed a non-binding Heads of Agreement (HoA) to jointly explore the establishment of a 6 million tonnes per annum (MTPA) integrated steel plant in India.

As part of the next phase, both companies will conduct a detailed feasibility study to finalise the project’s location, investment model, and resource logistics. Odisha, with its abundant natural resources and logistical advantages, is among the prime locations being considered for the project.