POSCO & Adani Group sign MoU for Integrated Steel

POSCO and the Adani Group have agreed to explore business cooperation opportunities, including the establishment of a green, environment-friendly Integrated Steel Mill at Mundra, Gujarat, as well as other businesses. The investment is estimated to be up to USD 5 Billion.

The collaboration includes evaluating a joint Integrated Steel Mill at Mundra, Gujarat, based on POSCO’s state-of-the-art technology and cutting-edge R&D capability. POSCO and Adani intend to utilize renewable energy resources and green hydrogen, in line with both partners’ ESG commitments to sustainability and energy efficiency.

Mr. Jeong-woo, Choi, the CEO of POSCO, said, “POSCO and Adani are able to                come to great synergy in the steel and environment-friendly business with            POSCO’s state-of-the-art technology in steel making and Adani’s expertise in              energy and infrastructure. I hope this cooperation will be a good and                  sustainable business cooperation model between India and South Korea.”

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