CURRENT AFFAIRS

Detailed explanation-1: -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.

Detailed explanation-2: -Jamshedpur is famous for iron and steel plant in India. TISCO was started in 1907 at Sakchi, near the confluence of the rivers Subarnarekha and Kharkai in Jharkhand. Later on Sakchi was renamed Jamshedpur.

Detailed explanation-3: -Tata Iron And Steel Company (TISCO) is the oldest steel plant in the country. It was established by Jamshedji Tata in 1907 and its production started in 1911.

Detailed explanation-4: -Steel Authority of India Limited (SAIL) is the largest steel-making company in India and one of the seven Maharatna’s of the country’s Central Public Sector Enterprises.

Detailed explanation-5: -Iron and steel industry of India and its raw material It is a basic industry and forms the backbone of industrial development in any country. It provides raw material for making industrial machinery, electrical machinery, defence equipment, railway tracks, dams, houses and a host of other industrial and consumer goods.