It is reported that Uttam Galva Steel, one of the largest manufacturers of cold rolled steel (CR) and galvanized steel in Western India agrees with Korea's Posco to build an integrated steel mill in western Maharashtra State.

The company has investment of about US$1 billion for its annual production output of three million tons in two phases of construction schedules. The Korean steel giant signed a memorandum of agreement with Uttam Steel and Power Limited (USPL), which is jointly promoted by the Uttam Galva group of the Miglani family and the world’s biggest steel maker ArcelorMittal to set up the integrated steel mill.

Maharashtra is also not a new destination for Posco, since the Korean firm has a steel processing unit of 2 MT per annum capacity in Vile-Bhagad Industrial Area near the Mumbai port.