POSCO & Adani sign MoU for integrated steel mill

Adani-Gas

POSCO and the Adani Group have 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. The investment is estimated to be up to USD 5 Billion, company said in the release.

The non-binding MoU signed between POSCO and Adani 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, it added.

Adani Enterprises was quoting at Rs 1,833.70, up Rs 3.80, or 0.21 percent on the BSE.

News Source:- Moneycontrol

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