POSCO held a memorandum of understanding (MOU) signing ceremony online on Jan. 7 to promote joint projects such as eco-friendly integrated steel mills with Adani Group in India.
The signing ceremony was attended by POSCO Group Chairman Choi Jeong-woo, Steel Division Vice Chairman Kim Hak-dong, Chairman Gautam of Adani Group and CEO Karan in charge of port and logistics business.
Accordingly, the two companies plan to discover various business opportunities that can cooperate at the group level, including eco-friendly integrated steel mill in India, renewable energy, hydrogen, logistics, and chemistry, to respond to carbon reduction policies. The construction of a steel mill is under review in the Mundra area, Gujarat State in northwest India.
Chairman Choi said at the signing ceremony, "If POSCO's steel technology and Adani Group's energy and infrastructure expertise are combined, various synergy will be possible in future eco-friendly businesses, including steel. We hope that the two companies will focus their capabilities and establish themselves as an exemplary cooperative model between Korea and India.”