Posco project faced difficulties during Cho's tenure as violence at the proposed site delayed implemntation of its Rs 51,000 crore (Rs 510-billion) plant. The company had already undertaken socio-economic survey in the plant site area and gained substantial support from the local people with passage of time.
Facing resistance from people who are likely to get displaced by its mega steel project near Paradip, South Korean steel major Posco is looking at "other options".
Industry sources added that Posco India would be assured of a strong marketing network in India through SAIL's extensive all-India network and a dedicated port at Haldia. SAIL also has seven iron ore mines.
South Korean steel company Posco has started an Indian subsidiary, Posco India, which will be based in Bhubaneswar, Orissa.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances