POSCO, JSW discuss eco-friendly reduction steel production

Chairman of POSCO Group Choi Jeong-woo met with Sajjan Jindal, Chairman of JSW Steel, India's largest steel conglomerate, to discuss collaboration on eco-friendly steel technologies and related initiatives.

According to POSCO Holdings Inc. on Tuesday, the chairman's visit to India was in response to Jindal's visit to Korea in November last year, where he provided assistance in the restoration work of the Pohang Steel Works. The visit served as a reciprocal gesture.

"During the recovery work from the damage caused by Typhoon Hinnamnor last year, JSW generously offered the company's equipment originally intended for its hot rolling mill, which greatly expedited the restoration schedule of our steel mills," Choi said.

"I look forward to further expanding and strengthening the collaboration between our two companies," Jindal responded.

The two leaders discussed not only collaboration in traditional businesses such as material procurement and steel technology but also explored opportunities for cooperation in future growth areas, including carbon neutrality, hydrogen and materials for secondary batteries.

POSCO is considering India, which is regarded as an ideal location for renewable energy and green hydrogen production, as a potential site for producing hot briquetted iron (HBI) for hydrogen reduction steel.

HBI is a product processed in the form of molded agglomerates of reduced iron obtained by removing oxygen from iron ore. JSW is also interested in POSCO's hydrogen reduction steel technology known as "HyREX."

Choi visited major facilities of POSCO in India, such as POSCO Maharashtra Steel, a cold-rolling production subsidiary, to assess the business operations and engage with employees. POSCO currently operates a cold-rolling and coating plant with an annual capacity of 1.8 million tons and four processing centers in India.

The company is also exploring partnerships with local counterparties for the construction of an integrated steel mill.

Write to Jae-Fu Kim at hu@hankyung.com