POSCO India Private Limited is a subsidiary of POSCO, the world’s fourth largest steel producer and one of the most competitive steel companies. POSCO signed a Memorandum of Understanding (MoU) with the Government of Orissa in June 2005, to set up a 12 MTPA green field steel plant near Paradip, Jagatsinghpur District, Orissa, with an estimated investment of USD 12 billion. The company will build a 4 million-tons per annum capacity steel plant in Orissa, during the first phase of its project , and expand the final production volume to 12 million tons per annum. POSCO-India Pvt. Ltd. was incorporated on 25th August 2005.
POSCO, the parent company operates two of the world’s premier steelworks at Pohang and Gwangyang, having a combined production capacity of 33.7* million tons per annum (MTPA). The Pohang steelworks produces 14.2* million tons of crude steel and specializes in the production of small lots in a broad range of products, including hot-rolled coil and cold-rolled sheets, plates, wire rods, electrical steel and stainless steel. The Gwangyang works focuses on mass production of limited high-demand products such as hot and cold rolled sheets, and produces 19.5* million tons of crude steel. POSCO’s products are shipped to over 60 countries around the globe, satisfying some of the world’s most quality-sensitive customers.