Uttam Galva Steel, a leading cold-rolled and galvanised steel maker in eastern India is likely to ink pact with South Korean steel major Posco, in order to set up a three-million-tonne-an-annum (tpa) integrated steel plant at Satarda in Maharashtra. For this project, Uttam Galva has reserved about 1,700 acres of land it owns at Satarda.
With this initiative two global steel makers, Posco along with ArcelorMittal that has 33.80% stake in Uttam Galva will come together in a steel project in India. Posco is facing land acquisition problems for their integrated steel project in Odisha, so they are considering Satarda, where Uttam Galva already owns land.
