Uttam Galva, POSCO Ink Technology-Sharing Agreement for Indian Joint Venture
12/29/2015 - India’s Uttam Galva Group has signed an agreement to incorporate POSCO’s steelmaking technology in their proposed joint venture plant in Maharashtra, reports The Hindu BusinessLine newspaper.
According to the newspaper, the new 1.5 million-metric-ton plant will employ POSCO’s fine ore reduction process and compact endless casting and rolling mill technologies. The technologies that POSCO is sharing will constitute its investment in the joint venture, the newspaper said.
POSCO holds a 20 percent stake in the joint venture, but has the option to increase its share later on.
The mill would use low-concentrate ore mined in the western state of Goa. The plant is to begin producing steel in 2019.
POSCO holds a 20 percent stake in the joint venture, but has the option to increase its share later on.
The mill would use low-concentrate ore mined in the western state of Goa. The plant is to begin producing steel in 2019.
