Adani Group inks MoU with South Korea’s largest steelmaker POSCO to develop steel mill in Gujarat

Industrialist Gautam Adani-led Adani Group and South Korea’s largest steelmaker POSCO have signed a non-binding memorandum of understanding (MoU) to explore business opportunities in India. This includes establishment of a green, environment-friendly integrated steel mill at Mundra, Gujarat.

The estimated investment of the project is up to $5 billion (approx. Rs 37,000 crore). The non-binding MoU also intends to collaborate at the group business level in various other sectors such as renewable energy, hydrogen, and logistics in response to carbon reduction requirements.