POSCO
JSW Steel and POSCO form joint venture for steel plant in Odisha amid South Korean President's India visit
JSW Steel and South Korea's POSCO Group are partnering to build a new steel plant in Odisha. This joint venture will have a production capacity of 6 million tonnes per annum. The deal signifies deepening strategic ties between the two major steel producers. This collaboration aligns with JSW Steel's expansion goals.
Global Markets | South Korean shares dip, but mark second weekly gain on Iran ceasefire hopes
South Korean stocks ended lower Friday but secured a second weekly gain. Hopes for a U.S.-Iran ceasefire boosted sentiment. The Korean won weakened against the dollar. Bond yields saw an increase. Foreign investors were net sellers of shares. The KOSPI index experienced a slight dip. This market movement reflects ongoing geopolitical and economic factors.
Global Markets | S.Korean shares log highest close since Feb on hopes of US-Iran talks
South Korean shares climbed to their highest close since February as optimism over renewed US-Iran talks boosted global risk sentiment and lifted investor confidence.
South Korean shares fall 3%, won hits 17-year low on Mideast worries
South Korean financial markets experienced a significant downturn on Monday. The main stock index, KOSPI, dropped by almost 3%. The national currency, the won, reached its lowest point in 17 years against the dollar. These declines were driven by concerns about the escalating conflict in the Middle East. Investors reacted with caution to the ongoing geopolitical tensions.
Bangladesh secures spot LNG cargoes as Mideast conflict lifts costs
Amidst the backdrop of global tensions, Bangladesh is taking proactive steps to fortify its energy infrastructure. The country has strategically acquired three liquefied natural gas shipments from the market, a move prompted by the increasing strife between Iran and Israel.
Global Market | South Korea's KOSPI leaps 12%, rebounds from worst-ever crash
South Korea's KOSPI index surged 12% on Thursday, recovering from its worst-ever daily drop, fueled by hopes of U.S.-Iran diplomatic progress. Global oil price stabilization and Wall Street's resilience also boosted market sentiment. The government affirmed readiness to deploy market stabilizing measures if needed.
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Global Markets | South Korea shares close at record high as chips rally
South Korean shares surged to a record high, driven by a tech-led rebound on Wall Street. The benchmark KOSPI closed up 3.09%, with major tech and auto companies seeing significant gains. Meanwhile, the won weakened against the dollar, and benchmark bond yields rose.
CCI clears deal involving two POSCO Group entities
The Competition Commission of India has approved POSCO Holdings subsidiary’s acquisition of LX International Corporation’s stake in POSCO-India Pune Processing Center. This move is intended to enhance POSCO Group’s operational efficiency in India. Both the acquirer and target entities are involved in steel processing and distribution, with the seller being an unrelated entity.
Adani Group signs MoU with South Korean steelmaker POSCO to set up an integrated steel mill
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, the company’s statement said.
ArcelorMittal Nippon Steel India inks Rs 5K cr pact with POSCO Maharashtra Steel to supply hot rolled coils
“POSCO Maharashtra Steel has been a valued customer for years and this MoU further strengthens our relationship with a promise to deliver smarter and better steel," said Dilip Oommen, Chief Executive Officer, ArcelorMittal Nippon Steel India (AMNS India) in a statement on Friday.
Odisha cancels land allotment to Posco project
The minister said that Posco had also defaulted on land dues worth Rs 54 crore for which IDCO held back transfer of balance land to the company.
Six industries log out of Odisha, Posco plant plan on hold
At least 6 major industries have pulled back their projects from Odisha while Posco has temporarily put its plan of setting up a 12-mtpa greenfield steel plant on hold.
South Korea has many things to offer, not just Posco: Ambassador
Odisha's steel and mines minister Prafulla Kumar Mallick said the state government was not apprised of Posco's decision of keeping the project at Paradip on hold.
BJP criticises Patnaik's move on Posco issue
Taking a dig at Chief Minister Naveen Patnaik for his appeal to the Centre to hold a high level meeting to resolve the Posco issue, BJP today asked Odisha government.
Odisha government hopeful of next round of talks on Posco issue
The Odisha government is hopeful of another round of high-level talks on the Posco issue, which is likely to be attended by Prime Minister Narendra Modi or Union Finance Minister Arun Jaitley.
BJD MPs meet Arun Jaitley, seek Centre's help on POSCO issue
A day after the South Korean Steel major POSCO signed an MoU with Uttam Galva for an integrated steel plant in Maharashtra, 10 BJD MPs from Odisha met Arun Jaitley.
Odisha optimistic to see Posco plant near Paradip
The Odisha government expressed optimism on the execution of the Rs 52,000 crore mega steel project by Posco near Paradip.
Posco decides to vacate office space in Odisha
Posco is vacating its office in Bhubaneshwar, a move seen as an indication that the South Korean steelmaker may have finally given up on its proposed Rs 51,000 crore steel plant in Odisha.
Centre rejects Odisha's request, for auction route for Posco
The Centre has rejected the Odisha government's request to consider its recommendation of granting prospecting license (PL) over Khandadhar iron ore reserve in favour of Posco India which proposed to set up a Rs 52,000 crore steel facility near Paradip.
Centre, state committed to Posco project in Odisha: Steel Secretary Rakesh Singh
Singh's statement on Posco project assumes significance as it comes a few days after Prime Minister Narendra Modi promised South Korean President Park Geun-Hye full support for the project.
'Posco has received 1,700 acres from Odisha's IDCO so far'
IDCO has so far handed over about 1,700 acres to Posco-India for the 8 mtpa greenfield mega steel plant in Jagatsinghpur district.
Posco to set up world-class steel plant in Odisha: Yoon, India CMD
Notwithstanding delays in the implementation of its Rs 52,000 crore project in Odisha, the South Korean steel major Posco today said the company is determined to establish a world class steel facility near Paradip.
Posco India fumes as cops shift seminar site citing security concerns
The seminar showcased the progress status of Posco's steel projects in India, including Odisha project and SAIL JV, to the equipment suppliers.
Sail optimistic about JV with Posco, says CS Verma
Steel Authority of India Limited (SAIL) was optimistic about its proposed joint venture with the South Korean steel major Posco, a top Sail official said.
Orissa to examine possible JV between Sail and Posco
Orissa govt said it was not informed about the Steel Ministry's proposal for a joint venture between public sector SAIL and Posco.
Posco India looks to tie up with SAIL for future projects
Posco India is interested in partnering state-owned Steel Authority of India Ltd (SAIL) in future projects, including a proposed project at Sindri.
Posco is a test case for FDI: Korean Envoy
With Posco's $ 12 billion proposed steel plant in Orissa still hanging fire, Korean Ambassador Kim Joong Keun today said countries in Europe are "carefully watching" the Posco issue in terms of FDI.
Posco, IMFA in JV to set up 35k tpa ferrochrome unit at Orissa
Posco today said it has tied up with Indian Metals and Ferro Alloys (IMFA) to set up a ferrochrome making unit at Orissa.
Posco project may get approval by September end
South Korean steelmaker Posco’s Rs 54,000-crore integrated plant in Orissa may get the environment ministry’s clearance by September end, a ministry official said.
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