Pact with Posco to benefit both firms: JSL's Ratan Jindal

Last week Jindal Stainless Ltd (JSL) signed a three year agreement with Korean steelmaker Posco for selling 200 series steel products to the latter or its subsidiaries. This series is used for domestic as well as industrial applications.

JSL, a part of the USD 15 billion OP Jindal Group was in talks with Posco for almost two years, said  Ratan Jindal, Vice Chairman and Managing Director of Jindal Stainless in an interview with CNBC-TV18

He further said that both companies would also review joint establishment and exploration for a nickel smelter process in Indonesia.

The move will benefit both JSL and POSCO in long term and the pact can be extended further on mutual cooperation, he added

Shares of the company are up 5.84 percent to Rs 57.10

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