Shree Uttam Steel and Power belonging to Uttam Galva Steels is planning to set up a 3.0 million tpa steel plant in joint venture with POSCO Steel, Korea. The proposed plant is to come up at Satarda in Sindhudurg district Maharashtra. As of August 2015, the company has signed a joint venture agreement for setting up the project. Work on the project is expected to commence in mid 2016 and the project will be implemented in two phases.