POSCO signs partnership deal with SAIL
POSCO Co Ltd, the world's fourth-largest steel maker, said it has signed a partnership with the Steel Authority of India Limited (SAIL) to strengthen its business in India.
By Agencies |
SEOUL: POSCO Co Ltd, the world's fourth-largest steel maker, said on Thursday it has signed a partnership with the Steel Authority of India Limited (SAIL) to strengthen its business in India.
"Both sides will work together in various ways such as raw material purchases and development, and marketing in India," POSCO said in a statement.
The state-run Steel Authority of India, which has six steel plants in the country, has an annual capacity of 15 million tonnes of crude steel.
The partnership with SAIL, largest steel maker of India, would enhance POSCO's Indian projects, the South Korean steel maker said.
POSCO, which has been seeking growth in foreign countries, plans to build a $12 billion steel complex in Orissa, which would be India's largest foreign direct investment project.
"Both sides will work together in various ways such as raw material purchases and development, and marketing in India," POSCO said in a statement.
The state-run Steel Authority of India, which has six steel plants in the country, has an annual capacity of 15 million tonnes of crude steel.
The partnership with SAIL, largest steel maker of India, would enhance POSCO's Indian projects, the South Korean steel maker said.
POSCO, which has been seeking growth in foreign countries, plans to build a $12 billion steel complex in Orissa, which would be India's largest foreign direct investment project.
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