ArcelorMittal Nippon Steel (AM/NS) India has signed an MoU with Posco Maharashtra Steel to supply hot rolled coils worth ₹5,000 crore this year. This is the two firms’ sixth supply agreement since 2015.
As part of the agreement, AM/NS India and Posco Maharashtra Steel, the Indian subsidiary of South Korean steel major Posco, will jointly work to enhance the quality of steel and develop new value-added gradesand solutions to consumers.
Dilip Oommen, CEO, AM/NS India, said the company has been focussing on value addition and development of value-added grades.
Sung Lae Chun, Chief Managing Director, Posco Maharashtra Steel, said it is a benchmark relationship globally.
AM/NS has an integrated manufacturing facility at Hazira in Gujarat with a capacity of 9 mtpa, and is strategically located to support the Posco Maharashtra Steel facility with hot rolled coil for the manufacture of cold rolled and coated steel.