|Indian government is confirmed to have proposed POSCO and Hyundai Steel a joint venture. POSCO and Hyundai Steel said January 10 that they are in receipt of the joint venture suggestion with the state-owned SAIL and RINL from the India government, but have not reached decisions yet.
It is known that the Indian government is of direct interest in the construction of integrated steelworks in an attempt to insure the high-quality steel products like auto steel sheet through a joint venture with the Indian state-owned steel mills.
Meanwhile, POSCO has run a 450,000 tons galvanized sheet line in Maharashtra, west India since 2012, and operated 300,000 tons non-oriented electrical steel line from 2013 and 1.8 million tons auto cold rolled sheet mill since 2015 as well. However, the construction of integrated steelworks with 1.8 million tons production capacity per year pushed forward since 2015 is now under suspension. Hyundai Steel has non to operate steel mills in India, while steel service center has only launched to offer to Hyundai and Kia Motors that have entered the Indian market.
Source: Steel&Metal News(http://eng.snmnews.com)