News > Adani plans steel foray via $5-bn pact with Posco

Adani plans steel foray via $5-bn pact with Posco

Billionaire Gautam Adani's group and South Korea's Posco have signed an initial pact to explore business opportunities to invest about $5 billion on projects that include setting up an integrated steel mill in Gujarat, the two firms said on Thursday.

For Posco, it will fulfil its long-held ambition of having a large steel unit in India to cash in on growing demand here.