Adani Enterprises Ltd.

Adani Group has inked MoU (Memorandum of Understanding) with POSCO to explore business cooperation opportunities, including the establishment of a green, environment-friendly Integrated Steel Mill at Mundra, Gujarat, as well as other businesses. The investment is estimated to be up to $5 billion.

The non-binding MoU signed between POSCO and Adani intends to further collaborate at the group business level in various industries such as renewable energy, hydrogen, and logistics in response to carbon reduction requirements. Both parties are examining various options to cooperate and leverage the technical, financial, and operational strengths of each company.

The collaboration includes evaluating a joint Integrated Steel Mill at Mundra, Gujarat, based on POSCO’s state-of-the-art technology and cutting-edge R&D capability. POSCO and Adani intend to utilize renewable energy resources and green hydrogen, in line with both partners’ ESG commitments to sustainability and energy efficiency.

Adani Enterprises is an infrastructure company. The company is engaged in coal trading, coal mining, oil and gas exploration, ports, multimodal logistics, power generation and transmission, and gas distribution.