Korean steel giant Posco has given up to build a 6 million tons per year integrated steel mill in the south India and the company already stopped any work of this project. Posco mentioned delays in gaining approvals to mine and persisting problems with land acquisitions. " The official of Posco pointed out that there was not much expectation of success in this project. For its own political purposes, the state government had initially intended to lure several steelmakers. The official also indicated that political uncertainty in the state was also a key to make the company do the decision. Currently, Posco is struggling with the delayed 8 million tons per year project in eastern India's Odessa.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=65389&division=A9
