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MoU signed between Industries Department of GoG and POSCO-Adani Collaboration

    Gandhinagar, Thursday: A MoU signed between the Industries Department of Government of Gujarat and POSCO-Adani Collaboration in the presence of Gujarat Chief Minister Mr. Bhupendra Patel to set up an Integrated Steel Mill and other collaborative plants at Mundra, Kutch.

    The investment is estimated to be approximately Rs. 37,500 crores to shape this plant, generating more than 3400 direct or indirect employment opportunities.

    This MoU has been signed between the State Government and POSCO-Adani with the objective of incentivizing more investments in the state in context to the Vibrant Gujarat Global Summit-2022.

    A plant with a capacity of 5million tons will be functional by 2026, and will be a green energy steel plant.

    Additional Chief Secretary of Industries Department Dr. Rajiv Kumar Gupta and CEO of Adani Group Mr. Karan Adani signed the MoU.

    CMD of POSCO India, Chief Principal Secretary to CM Mr. K. Kailashnathan, and senior officials also graced the occasion.

    Source: Information Department, Gujarat