POSCO considering building integrated steel mill in India to meet growing automotive steel demand
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Update time : 2023-09-07 15:04:33
South Korean leading steelmaker POSCO is considering building an integrated steel mill in India to meet the continuously growing demand for steel in the automotive industry.
POSCO currently has a joint venture steel plant in India, POSCO Maharashtra Steel, which supplies 1.8 million tons of steel, most of which are to the automotive industry every year.
Han Tae-soo, head of POSCO India Chennai Corp. (ICPC), said last month that steel plate orders continued to pour in as finished car manufacturers ramped up their production under India's 'Make in India' initiative.
With the increase of customers in the automotive industry, the revenue of POSCO's India operations has increased significantly in recent years.
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