POSCO Holdings Decides to Acquire Stake in Indian Mining Company Worth KRW 160.95 Billion

POSCO Holdings announced on the 20th that it has decided to acquire a stake in the Indian mining company Saffron Resources Private Limited.

The acquisition amount is approximately KRW 160.95 billion, which is equivalent to 4.7% of its equity capital. After the acquisition, POSCO Holdings will hold a 50% stake, and the scheduled acquisition date is December 31, 2031.

The company explained that the purpose of the acquisition is "an investment for establishing a joint integrated steel mill in Odisha, India."

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