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Adani, Posco agree to set up integrated steel mill in India

Planned $5bn investment will also explore renewables and hydrogen power

South Korea's largest steelmaker Posco aims to forge a lasting partnership with Indian conglomerate Adani.   © Reuters

NEW DELHI -- India's Adani Group and South Korean steel giant Posco have signed a memorandum of understanding (MOU) to explore business opportunities, including building an integrated steel mill in India's western state of Gujarat.

The eco-friendly mill will be part of an estimated $5 billion investment and will employ Posco's state-of-the-art technology and research and development capability, the Adani Group said in a statement on Thursday.

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