After land troubles, Posco puts on hold Odisha plant

摘要

Seoul, July .16: Posco, South Korea'sbiggest steelmaker, has puton hold plans tobuilda steel plant in India after land acquisition and farmer protests stalled the $12 billion project for a decade. The project in Odisha has been "tentatively postponed," chief executive officer Kwon Oh Joon said on Wednesday. Until Prime Minister Naren-dra Modi "offers better deals, we won't resume and for now we will head to the west and do more downstream work," he said, referring to a plant the company operates in Maharashtra.