POSCO Adani Group sign pact to set up steel plant in Gujarat

     New Delhi, Jan 13 (PTI) Industrialist Gautam Adani-led Adani Group has signed a pact with South Korea's POSCO to explore business opportunities in sectors like steel, renewable energy among others.
     Both the entities have signed a memorandum of understanding (MoU) to this effect.
     In a statement, Adani Group said the investment under the MoU is estimated to be up to USD 5 billion.
     Adani Group said it "has agreed to explore business cooperation opportunities, including the establishment of a green, environment-friendly integrated steel mill at Mundra, Gujarat, as well as other businesses.
     The non-binding MoU intends to further collaborate at the group business level in various industries such as renewable energy, hydrogen, and logistics in response to carbon reduction requirements, the statement said. PTI ABI DRR

(This story has not been edited by THE WEEK and is auto-generated from PTI)