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POSCO signs MOU with PNC Infratech for infrastructure projects

New Delhi:  POSCO Engineering and Construction India, a wholly owned subsidiary of POSCO E&C Co. Ltd., Korea, on Friday has signed a Memorandum of Understanding (MoU) with PNC Infratech Ltd. to jointly develop and execute infrastructure projects in India and neighbouring countries.

POSCO E&C and PNC Infratech will pitch for infrastructure projects with a special focus on dedicated rail freight corridors, high speed rail networks, personal rapid transport systems, smart cities, integrated townships, development of industrial regions and other core infrastructure projects.

Mr. In Hwan Ok, Chairman, POSCO Engineering & Construction India said, “We are delighted to partner with PNC Infratech for pursuing infrastructure projects in various key areas.  The proven capabilities of our two companies would give us an edge in bidding for major infrastructure projects in India and neighbouring countries.”

Mr. Yogesh Jain, MD, PNC Infratech Ltd said, “We have a good track record of successfully executing several infrastructure projects over the past two decades.  This partnership would enable us to bid for larger projects in several key areas where POSCO E&C would bring in world-class expertise.”

Huge investments are expected to be made in infrastructure development in the country in the years ahead, and the vast experience of POSCO E&C along with the local knowledge and skills of PNC Infratech, would give this alliance a strong competitive edge.

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