Jindal Stainless Ltd (JSL) and Korean steelmaker, Posco have signed a strategic pact to allow the companies to operate together in Posco’s steel mill project in Odisha, India, and to jointly invest in a nickel facility in Indonesia.
Sales of JSL products to Posco are also part of the agreement.
The agreement is for three years with the option of extension, and both companies hope to benefit from the others strengths. JSL is to supply its 200 series ferritic stainless steel products to Posco or its subsidiaries, and both companies will collaborate on a nickel smelting process in Indonesia.
The companies will also collaborate on joint overseas projects which include but are not limited to the establishment of service centres and cold rolling mills.