<h1>Domestic steelmaker and South Korean group agree Heads of Agreement to explore 50:50 JV for 6 MTPA plant</h1> A domestic steelmaker and a South Korean steel group signed a non-binding Heads of Agreement to explore a 50:50 joint venture to develop a 6 MTPA integrated steel plant in India. They will undertake a detailed feasibility study to finalize location, investment terms, resource availability and other key issues, with a coastal state with resource and logistical advantages under consideration. The framework builds on an earlier memorandum of understanding and is presented as combining the domestic partner's execution capabilities with the foreign group's technology to support local manufacturing, export competitiveness and national industrial policy goals.