ArcelorMittal Nippon Steel India has signed a Memorandum of Understanding with POSCO Maharashtra Steel to supply Hot Rolled Coils in 2021. Sixth such agreement between the two companies since 2015, the MoU is valued at about INR 5000 crore. As part of the agreement signed on January 27, AM/NS India and POSCO Maharashtra Steel will also jointly work to enhance the quality of current grades and develop new value-added grades to provide the best quality and state-of-the-art steel products & solutions to consumers.
AM/NS India Chief Executive Officer Mr Dilip Oommen said "POSCO Maharashtra Steel has been a valued customer for years and this MoU further strengthens our relationship with a promise to deliver smarter and better steel. We will continue supporting POSCO Maharashtra Steel in its endeavours as AM/NS India has always focused on value addition and development of value-added grades for customers. We strive to deliver high-quality HRC on time to POSCO Maharashtra Steel, thereby enhancing our contribution towards Self Reliant India mission."