Posco plans new 6 mn tonne steel plant in India

Posco plans new 6 mn tonne steel plant in India

New Delhi: South Korea’s Posco, the world’s No. 4 steelmaker, plans to set up a 6 million tonnes steel plant in south India, in addition to its planned project in Orissa in eastern India, a company official said on Thursday.

“It is absolutely in addition to our Orissa project. The planned capacity is 6 million tonnes a year. We remain committed to our Orissa project," Simanta Mohanty, the Bhubaneshwar-based India spokesman for the company said.

The head of the southern Karnataka state earlier said Posco plans to invest $7.1 billion for the steel plant.

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