KOLKATA: POSCO and Steel Authority of India have signed a Memorandum of Understanding (MoU) on technical collaboration for operational improvements and human resource development.
Dr. Oh-JoonKwon, Chairman cum CEO, POSCO and P K Singh, Chairman SAILBSE 5.53 % were present at the signing ceremony on Monday.
Speaking on the occasion P K Singh said that today’s MOU signing is an important milestone in SAIL-POSCO’s long-standing relationship and in future the companies would be collaborating in many more areas. It would be SAIL’s endeavor to work together with POSCO for the mutual benefit of both the companies.
Dr. Kwon said he hopes both companies will work together to make it a success. The MOU was signed by Dr. In-Hwa Chang, Chief Technical Officer, POSCO and Mr. Raman, Director (Technical), SAIL at POSCO Centre, Seoul. R K Rathi, CEO of ISP Burnpur, SAIL was also present at the event.
Incidentally, SAIL and Posco have been in discussions to set up a Finex-based integrated steel plant collaboration in R&D and energy efficient, environment-friendly green technologies and waste utilization etc.
Earlier this year, a South Korean delegation led by the mayor of Pohang visited Delhi in February and met with the then union steel minister Narendra Singh Tomar to discuss various areas where the two countries can collaborate and work together in the steel sector.
Recent Articles on M&A
Source: Economic Times
