According to report, South Korea’s Posco and Indian Metals & Ferro Alloys Ltd (IMFA) may sign a 25 year joint venture agreement for ferro-chrome production.

IMFA will build a new furnace into a 100% subsidiary in which Posco would take stakes of 24% to 5 million. It is expected to bring 35 thousand tons of FeCr production capacity annually.

Based upon the agreement, Posco can access 85 thousand tons of FeCr from IMFA annually. Among them, 35 thousand tons are from the new furnace.