AN INTEGRATED STEEL MILL TO BE DEVELOPED AT MUNDRA

Adani Group along with Korean steel company, Posco to develop and set up an integrated steel mill in Mundra, Gujarat with a well thought investment of $5 billion (approx. Rs 37,000 crore). “We are very pleased to announce the partnership with POSCO, the world’s most efficient and advanced steel manufacturer, in steel production and carbon reduction,” said Gautam Adani, Chairman of the Adani. he non-binding MoU signed between POSCO and Adani intends to additional collaborate at the cluster business level in numerous industries like renewable energy, hydrogen, and supply. each parties area unit examining numerous choices to join forces and leverage the technical, financial, and operational strengths of every company. The collaboration includes evaluating a joint Integrated manufactory at Mundra, Gujarat, supported POSCO’s technology and R&D capability. “POSCO and Adani will utilize renewable energy resources and inexperienced gas, in line with each partners’ ESG commitments to property and energy potency,” the company’s statement same. POSCO runs POSCO-Maharashtra, a 1.8-million-ton cold-rolled and galvanized mill and 4 process centres in Pune, Delhi, Madras and Ahmedabad.