October 19, 2026 02:01 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
Onion prices set to get relief? Centre sends 440 tonnes to Tripura ahead of festive season
Fri, Oct 16 2026
12 nations turn to Bengal: ICC hosts diplomats in Kolkata to explore trade and investment opportunities
Thu, Oct 15 2026
Hyundai announces $15.5 billion India investment plan through 2032: Here's what's coming
Wed, Oct 14 2026
Modi, Anita Anand discuss trade, defence and energy as India-Canada ties gain momentum
Wed, Oct 14 2026
Government approves Fairfax Financial as strategic buyer for 60.72% stake in IDBI Bank
Wed, Oct 14 2026