Jindal, POSCO sign MoU on long-term joint business
Thursday, April 11 2013 - 08:04 AM WIB
Indian firm Jindal Stainless Limited has signed a Memorandum of Understanding (MoU) with South Korean steel company POSCO to mutually cooperate for long-term joint business opportunities.
The MoU signed on April 10 is applicable for 3 years, the company said in a statement Wednesday.
The MoU highlighted among others the long term based supply of 200 series stainless steel products of Jindal Stainless to POSCO or its subsidiaries and reviewing on joint establishment and exploration for a nickel smelter process in Indonesia.
The MoU would also review on joint co-operation in JSL?s Odisha project
Jindal Stainless is a globally recognized producer of stainless steel flat products in Austenitic, Ferritic, Martensitic and Duplex grades. With POSCO being one of the global giants in stainless steel and carbon steel and having already expanded their Cold Rolled capacities in the growing markets of South-East Asia and also in Europe.
Editing by Adianto P. Simamora