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Adani Group cooperates with POSCO on new steel mill

14 Jan 2022 16:33 reported by Donna Huang

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Adani Group planned to build an integrated steel mill with POSCO.

Adani Group is an Indian multinational conglomerate comprising 6 publicly traded companies. This time the group will invest US$5 billion for the new mill. The mill will be located in Mundra, the state of Gujarat.

Both sides have signed a memorandum of understanding (MoU). Adani Group stated MoU is not binding on both sides, but it can help both companies to cooperate on multiple aspects like recycling energy, hydrogen energy, and logistics, for the goal of carbon reduction.

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