POSCO plans to build a new plant in India

South Korean steel giant Posco has selected Sanand in Gujarat to build a new steel plant. Posco is planning an investment of $ 20 million.

POSCO Sanand will be the second site in India alongside Pune Maharashtra. According to the government, Posco's coiled steel plant will cover an area of ​​30,000 square meters and plans to have a throughput of about 100,000 tons per year. The Posco plant is likely to produce steel coils for the automotive industry, given the sector's immense presence in Gujarat.

An official to represent South Korea previously stated that Posco is interested in setting up a production of coiled steel in the state of Gujarat. Since Sanand has previously become a favorite destination for automakers in India such as Tata Nano and other multinationals including Ford and Peugeot.

Tata was the first in the automotive industry to establish its Nano car factory in Sanand after it faced an uprising in West Bengal and had to relocate to Gujarat, accepting an invitation from Prime Minister Narendra Modi. Ford has also set up its own manufacturing unit in the same area. In addition to these auto giants, Japanese electric company Hitachi has also set up its power equipment manufacturing facility in the Gujarat state of Sanand.