Question: In January 2022, at which place Adani Group and POSCO have signed an agreement to set up an eco-friendly integrated steel mill?
(a) Mundra
(b) Vapi
(c) Bangalore
(d) Kendrapara
Answer—(a)
Related facts—
- In January 2022, the Adani Group signed a non-binding MoU with South Korean company POSCO to explore business opportunities in areas including steel, renewable energy, hydrogen and logistics.
- This agreement has been made to cooperate in response to carbon reduction requirements.
- An investment of up to US$ 5 billion is expected under this MoU.
- POSCO and the Adani Group have agreed to explore business collaboration opportunities including setting up of an eco-friendly integrated steel mill at Mundra, Gujarat and other ventures.
- Under this, the two sides will take advantage of the technical, financial and operational strengths of each company as well as explore other options for cooperation.
- It is noteworthy that POSCO and Adani have also signed an MoU with the Government of Gujarat for cooperation.
By – Pankaj Pandey