JSW Steel has entered into a preliminary agreement with South Korea's POSCO to jointly construct an integrated steel plant in India, targeting a capacity of 5 million tons of steel per year. The collaboration will also focus on materials for electric vehicle batteries and renewable energy solutions for the plant. POSCO, which already operates a facility in Maharashtra, previously abandoned plans for a $12 billion plant in Odisha due to land acquisition delays. JSW Steel aims to invest $1 billion in decarbonizing its operations, aspiring to achieve carbon neutrality by 2050.