Chennai: ArcelorMittal Nippon Steel India (AM/NS India) has announced signing a pact with POSCO Maharashtra Steel, under which the former will supply hot rolled coils (HRC) worth Rs 5,000 crore in 2021.
While AM/NS India is a 50:50 joint venture between Luxembourg-based ArcelorMittal and Japan’s Nippon Steel, POSCO Maharashtra Steel is the Indian subsidiary of South Korean steel major POSCO.
“AM/NS India has signed a Rs 5,000 crore memorandum of understanding (MoU) with POSCO Maharashtra Steel to supply Hot Rolled Coils (HRC) in 2021. Sixth such agreement between the two companies since 2015,” AM/NS India said in a statement.