Jindal Stainless has signed a Memorandum of Understanding (MOU) with POSCO, to mutually cooperate with each other for long-term joint business opportunities. The MoU is applicable for 3 years and can be extended by mutual agreement.
The deal will permit long term based supply of 200 series stainless steel products of the company to POSCO or its subsidiaries, review on joint establishment and exploration for a nickel smelter process in Indonesia. Review on joint co-operation in the company’s Odisha project, review on overseas joint projects including but not limited to the establishment of services centers and cold rolling mills and other areas that the parties mutually agree to cooperate in writing from time to time
Jindal Stainless manufactures stainless steel slabs, blooms, hot rolled and cold rolled coils, 60% of which are exported worldwide. It has a stainless steel making facility at Hissar and a ferro alloy plant at Vizag.
