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Adani and POSCO to jointly set up a steel plant in Mundra

Tags: Economics/Business

Adani Group has signed a Memorandum of Understanding with the South Korean Steel major Posco to set up an integrated steel plant in Mundra, Gujarat with an investment of $5 billion.


Adani and POSCO to jointly set up a steel plant in Mundra

  • The Government of India has set a target of 300 million tonnes of crude  steel production in India by 2030. 
  • As of September 2021 ,India was the second largest producer of steel in the world after China ,with an output of 9.5 Million Tonnes.
  •  Posco is the fourth largest steel company in the world after ArcelorMittal, Nippon Steel and BaoSteel of China.
  •  It has a 1.8 million tonne cold rolled and galvanised steel mill plant in Raigad, Maharashtra .

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