Posco, Adani Group to set up $5 billion Mundra steel mill
Steel

Posco, Adani Group to set up $5 billion Mundra steel mill

South Korean group Posco and Adani Group have entered an agreement to jointly build an integrated steel plant worth USD 5 billion in Gujarat. This was the third attempt of the South Korean company to have a substantial manufacturing presence in India.

The initial non-binding agreement between the two companies states that the environment-friendly steel mill will be established in Mundra, Gujarat, which is also Gautam Adani’s home state.

However, details regarding the new plant’s investment and manufacturing capacity have not been disclosed.

This alliance is an amazing step for the Adani Group which is so diversified and has interests in various sectors such as ports, logistics, power, airports, mining, infrastructure, and so on.

Recently Adani announced plans for major investment for becoming the world’s best renewable energy company.

They are also uniting with new-age businesses as part of their plans for their super-app and investment in data centers.

According to a statement, renewable energy, hydrogen, and logistics are the further sectors in which the two companies plan on collaborating further at a group level for the reduction in global carbon footprint.

The companies have plans for tapping into renewable energy sources as well as green hydrogen, aligning with ESG commitments for sustainable and efficient energy.

Image Source

South Korean group Posco and Adani Group have entered an agreement to jointly build an integrated steel plant worth USD 5 billion in Gujarat. This was the third attempt of the South Korean company to have a substantial manufacturing presence in India. The initial non-binding agreement between the two companies states that the environment-friendly steel mill will be established in Mundra, Gujarat, which is also Gautam Adani’s home state. However, details regarding the new plant’s investment and manufacturing capacity have not been disclosed. This alliance is an amazing step for the Adani Group which is so diversified and has interests in various sectors such as ports, logistics, power, airports, mining, infrastructure, and so on. Recently Adani announced plans for major investment for becoming the world’s best renewable energy company. They are also uniting with new-age businesses as part of their plans for their super-app and investment in data centers. According to a statement, renewable energy, hydrogen, and logistics are the further sectors in which the two companies plan on collaborating further at a group level for the reduction in global carbon footprint. The companies have plans for tapping into renewable energy sources as well as green hydrogen, aligning with ESG commitments for sustainable and efficient energy. Image Source

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000