When the first phase of the Rs 52,000 crore (Rs 520 billion) steel plant of Posco-India, the Indian subsidiary of South Korean company Posco is completed by 2010 around 7,000 people would get direct employment.
South Korean steel giant Posco has begun the feasibility study for its proposed Rs 52,000 crore (Rs 520 billion) steel project in India while keeping out its mining partner BHP Billiton from the detailed study besides kick starting the process of for
South Korean steel giant Pohang Steel Company on Tuesday asserted that it will develop a captive port near state-owned Paradip port
Even as its 12 million tonne steel project in Orissa is waiting to take off, South Korea's Pohang Steel Company, the world's fifth largest steel maker
Commenting on the development, H K Patil, minister in charge for Gadag district in the Karnataka government, said the people of the area will be happy with Posco's pullout.
POSCO officials have said it was unlikely to build the plant without assured supply of iron ore.
Ridiculing Odisha government's claim that land acquisition for the proposed Posco project near Paradip was complete, CPI-backed Posco Pratirodh Sangram Samiti (PPSS) said demolition of betel vines did not mean taking over possession of farmers' land.
The Korean company's proposed 12 million tonne per annum project at Jagatsinghpur district in Odisha is stalled for about a decade.
Land acquisition for the South Korean steel major Posco's proposed steel plant near Paradip was completed on Thursday with the Odisha government demolishing 25 more betel vines at Gobindpur village, official sources said.
Is it inconsistency in policy, or the lack of robust support?
Rejecting a UN panel recommendation for halting Posco's port-to-steel plant project, both the Republic of Korea and the Odisha government on Monday exuded optimism to go for the ground-breaking ceremony of the proposed facility near Paradip early next year.