At an investment attraction event for Rajasthan, India held in Seoul, SG and POSCO International officials met with Bhajan Lal Sharma, Chief Minister of Rajasthan, to discuss plans for establishing an asphalt concrete plant. / Photo by SG
Asphalt specialist SG announced on the 10th that it will promote a road construction project in Rajasthan, India, in partnership with POSCO International. Following their joint agreement to pursue overseas asphalt projects in July, they are now collaborating on road construction projects in India after Ukraine.
On the 9th, a delegation led by Bhajan Lal Sharma, Chief Minister of Rajasthan, India, met with SG and POSCO International to introduce the vision and business environment of Rajasthan and discuss investment opportunities. The meeting was attended by Bhajan Lal Sharma, Chief Minister of Rajasthan, Shin Dae-ho, Head of POSCO International’s Eco-friendly Business Development Group, Seo Oh-jin, Head of SG’s Strategic Planning Division, and other executives from both companies.
Rajasthan, India, covers an area of 342,239 km², approximately 3.5 times the size of South Korea. The Indian government has approved smart city development projects in 12 cities including Jodhpur and Pali. The delegation’s visit to Korea was aimed at attracting foreign direct investment (FDI) through smart city initiatives and encouraging investment from domestic companies.
An SG official stated, “The smart city projects in Rajasthan are characterized by excellent infrastructure and eco-friendliness in surrounding cities,” adding, “Rajasthan has promised active support for the road construction project being carried out jointly with POSCO International.”
They continued, “Both companies are considering establishing an asphalt manufacturing plant in Rajasthan,” and added, “By producing the asphalt needed for road construction locally through their own plant, they aim to reduce costs, increase construction speed, and secure competitiveness.”
SG and POSCO International signed a memorandum of understanding (MOU) in July for overseas asphalt and eco-steel asphalt projects. POSCO International is responsible for discovering overseas business opportunities and securing orders, while SG handles local technology rights acquisition, manufacturing, and construction. In addition to the ongoing reconstruction project in Ukraine, they are jointly pursuing projects in India and Indonesia, where asphalt demand is rapidly increasing.
Recently, the two companies visited Indonesia and met with Indonesian asphalt company Selo Sakti Perkasa and key officials from the Indonesian Ministry of Public Works and Housing (MPWH). During this period, they reviewed asphalt supply performance and transaction structures between public and private sectors in Indonesia, as well as restrictions on foreign direct investment.
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