India-South Korea Discuss Collaboration in Steel Sector

13 February 2016

Union Minister of Steel and Mines Narendra Singh Tomar met a delegation from Republic of Korea led by Mayor of Pohang, Mr. Lee Kang-deok at Udyog Bhawan, New Delhi. On the Indian side, senior officials from the Ministry of Steel, Ministry of Mines and PSUs were present during the meeting.

The two teams discussed Finex based integrated steel plant proposed to be set up by POSCO and SAILBSE -3.89 %, collaboration in R&D and energy efficient, environment friendly green technologies and waste utilization, supply of iron ore by NMDCBSE -0.76 % from its mines to the steel mills in the Republic of Korea, developing value added products/ special steels with collaborative arrangements from steel majors in Korea and design of Slag Granulation Plant (SGP) to introduce the technology in existing steel plants in India.

The steel minister invited South Korea to invest in India and also partner by knowledge exchange and technology transfer while informing them of the various government initiatives like Make in India and Digital India. The minister also gave a detailed account of how the government is trying to improve ease of doing business in India by simplification of procedures, greater transparency and the MMDR Amendment Act.


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