It's reported that Korean steel giant Posco is considering to draw out a US$5.3 billion steel mill project in India's Karnataka state. Posco is trying to expand in oversea and signed a preliminary agreement with the state in 2010. However, the opposition from residents and political instability may lead Posco to face difficulty to move up.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=65384&division=A9