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Posco to set up steel plant in Orissa
By agencies
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Wednesday, 16 February 2005, 20:30 IST
BHUBHANESHWAR: After several days of confusion and reports that POSCO might move to Brazil after announcing setting up plant in Orissa, the company today said it will set up a $ 10 billion steel plant in the state.
The worlds fourth largest steel company has chosen the port town of Paradeep for setting up a 12 million tonne capacity plant. A POSCO delegation headed by company president Chang Oh Kang is in the state and visited Paradip to inspect the likely site.
The delegation also surveyed the Dhenkia-Nuagan area on the seashore, adjacent to the site of an oil refinery being set up by the IndianOil Corporation (IOC) at Paradeep.