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-ton per annum capacity steel plant in Orissa, during the first phase of its project between 2007 and 2010, and expand the final production volume to 12 million tons per annum. POSCO-India Pvt. Ltd. was incorporated on 25th August 2005 with the Registrar of Companies, Orissa, under the Companies Act 1956.
POSCO, the parent company operates two of the world’s premier steelworks at Pohang and Gwangyang, having a combined production capacity of 31 million tons per annum (MTPA). The Pohang steelworks produces 13.5 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 17.5 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.