12:31 PM EDT, 08/18/2025 (MT Newswires) -- Posco (PKX) said Monday it signed a non-binding heads of agreement with JSW Steel to jointly explore building a 6 million tonnes per annum integrated steel plant in India.

The agreement sets the framework for a potential 50-50 joint venture between the companies, with the Indian state of Odisha being considered a potential site for the steel plant, the company said.

A feasibility study will determine the plant's location, investment terms and resource availability, Posco said.

Shares of Posco were down 1.7% in recent Monday trading.

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