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Essar Steel to supply steel to Posco Steel India for Rs 5,000 cr

Wednesday, 03 Jul 2019
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Posco Steel India has inked a memorandum of understanding (MoU) with Essar Steel to buy one million tonne hot rolled products close to Rs 5,000 crore.

The volume of steel will be supplied to Posco and utilised for manufacture of value-added steel products like coated steel. It is the company's fourth MoU with Essar Steel that has earlier supplied more than 2.5 million tonne steel to Posco over the last five years.

Essar Steel's plant in Hazira is close to Posco Steel India's faciltiy in Maharashtra and the transportation also takes place through the sea route from Hazira to Dighi port. Posco Steel India has a two million tonne steel plant in Mangaon in Maharashtra.

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