Posco Plans to Cooperate with Indian Cold Roller & Galvanizer UGSL to Set a Joint Venture

Posco is planning to cooperate with Indian cold roller and galvanizer Uttam Galva Steels Ltd (UGSL) to set a joint venture. Under the joint venture, they will cooperate to build an annual 3 million tons integrated steelworks in Maharashtra state. Posco will have a talk with with officials of UGSL and ArcelorMittal, which holds a 33.79% shareholding in UGSL. UGSL has a 1 million tpy cold rolling and 750,000 tpy galvanizing lines in Maharashtra. Posco also has a 300,000 tpy cold-rolled grain-oriented electrical steel mill to be commissioned this October and a 250,000 tpy service center in Maharashtra.