Posco eyes integrated steel mill in India just-auto.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from just-auto.com Daily Mail and Mail on Sunday newspapers.
Steel shortage from Posco may force automakers to suspend production: SIAM business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Three people in know of the development told ET there have “hardly” been any supplies from the units since March 4, 2021, and may result in affecting production at several vehicle makers, if the issue is not resolved shortly.
ArcelorMittal Nippon Steel India (AM/NS India), a joint venture between ArcelorMittal and Nippon Steel, has signed a memorandum of understanding (MoU) with Posco Maharashtra to supply hot rolled coils (HRC) in 2021. The MoU is valued at about Rs 5,000 crore. The agreement is the sixth such between two companies since 2015. As part of the agreement signed on January 27, AM/NS India and POSCO Maharashtra Steel will also jointly work to enhance the quality of current grades and develop new value-added grades to provide state-of-the-art steel products and solutions to consumers. With its manufacturing facility at Hazira, Gujarat, AM/NS India is strategically placed to support Posco Maharashtra facility with HRC for manufacturing cold rolled and coated steel.