Connect with us

The Plunge Daily

POSCO, Adani Group sign pact to set up steel plant in Gujarat

POSCO, Adani Group sign pact to set up steel plant in Gujarat

Business

POSCO, Adani Group sign pact to set up steel plant in Gujarat

Industrialist Gautam Adani-led Adani Group has signed a pact with South Korea’s POSCO to explore business opportunities in sectors like steel, renewable energy among others.



Both the entities have signed a memorandum of understanding (MoU) to this effect. In a statement, Adani Group said the investment under the MoU is estimated to be up to USD 5 billion. Adani Group said it “has 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.


Also read: Working through a lot of challenges with government: Tesla

The non-binding MoU intends to further collaborate at the group business level in various industries such as renewable energy, hydrogen, and logistics in response to carbon reduction requirements, the statement said.


Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

To Top
Loading...