JSW Steel Limited and South Korea's POSCO Group have entered into a Joint Venture Agreement to establish a greenfield integrated steel plant in Odisha. According to a regulatory filing, the partnership will be executed through Saffron Resources Private Limited, a wholly owned subsidiary of JSW Steel, which will now become a 50:50 joint venture between the two companies. The Board of Directors of JSW Steel approved the Share Subscription and Joint Venture Agreement during a meeting held on Friday, April 17.