Posco inks Rs 5,000 cr MoU to lift one mn tonnes of HR products from Essar

MoU is the fourth such signed between the two firms; Posco says pending matter over Essar Steel's ownership hasn't impacted supplier's performance

Posco India has signed an offtake agreement with Essar Steel valued at around Rs 5,000 crore.

Sources said that the agreement was for procuring one million tonne of hot rolled products and it was the fourth such memorandum of understanding signed between the two companies.

Commenting on the MoU, G H Bang, MD, POSCO Maharashtra said,