Posco drops $5,3-bn Karnataka steel mill, but Orissa plan alive

摘要

CITING delays in land acquisition and grant of mining rights, South Korean steel major Posco on Tuesday cancelled its plan to set up a $5.3-biIIion plant in Karnataka with a proposed capacity to produce 6 million tonne steel per annum. The development promises to be a setback for the central government which is working on measures to relax ceilings on foreign direct investment in a host of sectors to attract more foreign investments.