Andhra govt seeks POSCO India s confirmation for steel plant proposal ANI | Updated: Mar 01, 2021 11:09 IST
Amaravati (Andhra Pradesh) [India], March 1 (ANI): The Andhra Pradesh government on Sunday sought confirmation from steel company POSCO India about its proposal to establish a greenfield steel plant at Krishnapatnam in Nellore.
Special Chief Secretary to GoAP Karikal Valaven, in a letter to POSCO India CMD Sung Lae Chun on Friday, also invited the company s delegation from South Korea for further discussions. Andhra Pradesh has consistently ranked No 1 in Ease of Doing Business among the Indian states, a testament to our strong commitment to industrial growth. With the same enthusiasm, I would like to extend an invite to the delegation from POSCO Head Quarters at Seoul, South Korea to confirm your proposal for setting up an integrated steel plant at Krishnapatnam, said the letter signed by R Karikal Valaven, Special Chief Secretary.
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.