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    A005490   KR7005490008

POSCO HOLDINGS INC.

(A005490)
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End-of-day quote Korea Stock Exchange  -  05-17
288000.00 KRW   +0.17%
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05/13POSCO Holdings Inc. Resolves to Pay Cash Dividend of the First Quarter for the Fiscal Year 2022, Payable June 2, 2022
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South Korea's POSCO, India's Adani eye steel mill project in $5-billion pact

01/13/2022 | 04:54am EDT
The logo of the Adani Group is seen on the facade of one of its buildings on the outskirts of Ahmedabad

BENGALURU/NEW DELHI (Reuters) - Indian billionaire Gautam Adani's infrastructure group and South Korean steel major POSCO aim to invest about $5 billion on projects that include setting up an integrated steel mill in the western state of Gujarat, the companies said.

The project is part of a pact between one of India's most powerful conglomerates and POSCO, giving the South Korean steel major a fresh opportunity to cash in on growing steel demand in the South Asian nation.

The pact to explore business opportunities, under which both will invest about $5 billion, covers industries such as renewable energy, hydrogen, and logistics, the companies said in Thursday's statement, without giving details.

"POSCO and the Adani group have agreed to explore business co-operation opportunities," they said, adding that one of these was putting up a green, environment-friendly integrated steel mill at Mundra in the coastal state.

Adani did not immediately respond to a query on individual investments.

POSCO now runs a 1.8-million-tonne cold-rolled and galvanized mill in the western state of Maharashtra, supplying automotive steel to India's leading automakers.

It dropped plans a few years ago for what was seen as India's biggest foreign investment, a $12-billion steel plant project with annual capacity of 12 million tonnes in the eastern state of Odisha, stung by inordinate delays in land acquisition.

Adani aims to invest $20 billion in renewable energy in the next decade, saying it will also strive to make its port business a net-zero carbon emitter by 2025. Its flagship, Adani Enterprises, is India's biggest coal trader, having faced opposition from climate activists for its push to operate Australia's Carmichael mine, one of the biggest greenfield coal projects of recent years.

(Reporting by Nallur Sethuraman in Bengaluru and Mayank Bhardwaj in New Delhi; Editing by Clarence Fernandez)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ADANI ENTERPRISES LIMITED -0.23% 2179.4 End-of-day quote.27.56%
COASTAL CORPORATION LIMITED 0.68% 327.9 End-of-day quote.2.89%
ON SEMICONDUCTOR CORPORATION -4.56% 55.83 Delayed Quote.-17.80%
POSCO HOLDINGS INC. 0.17% 288000 End-of-day quote.4.92%
All news about POSCO HOLDINGS INC.
03:12aPOSCO : to team up with Prologium to lead the all-solid-state battery market
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03:02aPOSCO : Begins Steel Supply for Hyperloop Tubes
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05/13POSCO Holdings Inc. Resolves to Pay Cash Dividend of the First Quarter for the Fiscal Y..
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05/13Posco Holdings, Prologium Enter Into Battery Collaboration
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05/13POSCO Holdings Inc. and ProLogium Sign Agreements for the Development and Supply of Mat..
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05/13ProLogium Technology Co., Ltd. announced that it has received funding from POSCO Holdin..
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04/28POSCO : 28 April is 2022 Steel Safety Day
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04/27UBS Adjusts POSCO's Price Target to 260,000 Won From 250,000 Won, Keeps at Sell
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04/27POSCO : strengthens foundation for entering the industrial gas market by expanding oxygen ..
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04/26POSCO : Changed Thailand Due to COVID-19 and Our Hope
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Financials
Sales 2022 81 655 B 64,2 B 64,2 B
Net income 2022 5 240 B 4,12 B 4,12 B
Net Debt 2022 2 158 B 1,70 B 1,70 B
P/E ratio 2022 4,70x
Yield 2022 5,35%
Capitalization 21 780 B 17 128 M 17 128 M
EV / Sales 2022 0,29x
EV / Sales 2023 0,25x
Nbr of Employees 17 403
Free-Float 85,3%
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Mean consensus BUY
Number of Analysts 24
Last Close Price 288 000,00 KRW
Average target price 408 458,33 KRW
Spread / Average Target 41,8%
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Managers and Directors
Jeong-Woo Choi Chairman & Co-Chief Executive Officer
In-Hwa Chang Co-President, Co-CEO & Director
Jung-Son Chon Co-Chief Executive Officer & Director
Seung-Kyu Lim Senior Managing Director & Head-Finance
Seong-Wook Lee Head-Legal & Compliance Support
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