Posco Engineering & Construction India, a wholly owned subsidiary of Posco E&C Korea, signed a Memorandum of Understanding (MoU) with PNC Infratech 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. In Hwan Ok, Chairman, Posco E&C 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." Yogesh Jain, Managing Director, PNC Infratech, 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."