May 06, 2026 10:02 am (IST)
Follow us:
Shree Uttam Steel & Power signs MoA with POSCO Korea
Mumbai, Aug 11 (IBNS): Shree Uttam Steel and Power Ltd, a part of Uttam Galva Group and POSCO Korea, on Tuesday signed a Memorandum of Agreement (MoA) to set up an integrated steel manufacturing facility under a Joint Venture arrangement in India.
The MoA was signed in Mumbai.
The MoA is the first step of a process to establish a JV between the two companies.
The MoA is the first step of a process to establish a JV between the two companies.
The proposed JV plans to set up 3 MTPA integrated steel plant at Satarda in Maharashtra in two phases.
Ankit Miglani of Uttam Galva said, “We have been associated with POSCO across various aspects of the steel business over the years. Today’s signing signals our intention to further advance our collaboration with POSCO to a higher level on the value chain. Also we feel that the future of the Indian Steel Industry is bright and we are poised to as a nation make a quantum leap on the Global Steel stage. This JV will help us to develop a world class integrated steel manufacturing facility in line with the with the government’s ‘Make in India’ initiative. We hope to with POSCO’s technical support create an integrated steel plant that will be a centre of manufacturing excellence."
Ankit Miglani of Uttam Galva said, “We have been associated with POSCO across various aspects of the steel business over the years. Today’s signing signals our intention to further advance our collaboration with POSCO to a higher level on the value chain. Also we feel that the future of the Indian Steel Industry is bright and we are poised to as a nation make a quantum leap on the Global Steel stage. This JV will help us to develop a world class integrated steel manufacturing facility in line with the with the government’s ‘Make in India’ initiative. We hope to with POSCO’s technical support create an integrated steel plant that will be a centre of manufacturing excellence."
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Iran War: India has enough policy buffers to absorb heightened global uncertainties, says RBI Dy Governor
Tue, May 05 2026
Shock in the air: Spirit Airlines shuts down over fuel price hike amid Middle East crisis
Sun, May 03 2026
Cognizant Technology Solutions to cut 4,000 jobs amid Project Leap announcement—Is AI driving the move?
Sat, May 02 2026
Travel plans at risk? Air India cuts flights amid rising costs
Sat, May 02 2026
Big boost to India–Tanzania ties: Trade crosses $9 billion mark
Fri, May 01 2026