POSCO makes a power move: Can steel major be fifth-time lucky in India?

The agreement with the mighty Adani group offers the South Korean giant a fifth shot at setting up an integrated steel plant in India

It’s another day of hope for South Korean steel major POSCO as it takes yet one more shot at setting up a new steel plant in India. In the past 17 years, it has tried alone and in partnership with private and public sector companies to get a meaningful foothold in the market, but without success. As it joins forces with Adani, one of India’s most powerful business groups, the big question everyone’s asking is whether POSCO will be fifth-time lucky.

On January 13, in a statement, the Adani group and POSCO said they had signed a non-binding agreement to