POSCO and Adani Group to Invest $5 Billion in an Integrated Steel Mill Together

The South Korean steel-making company, POSCO and Adani Group have decided to invest an estimated $5 billion to explore more business opportunities, with the establishment of green, environment-friendly integrated steel mill at Mundra, Gujarat, and other businesses. 

Both the companies also plan to collaborate in various industries including renewable energy, hydrogen, and logistics under the non-binding MoU. The companies are also examining multiple options to cooperate and leverage the technical, financial, and operational strengths of each company. 

POSCO and Adani Group have signed an MoU for support and cooperation from the government in Gujarat.

Adani Group was founded in 1988 and is India’s largest and fastest-growing portfolio under diversified businesses with interests in renewable energy, gas, and other sectors. The company has also announced its plans to become the largest renewable energy company in the world and to produce green hydrogen in the future.