POSCO to invest $900 million in Orissa port

POSCO to invest $900 million in Orissa port

South Korean steel giant POSCO will reportedly invest $900 million to establish a port in India's Orissa state. A statement from POSCO informs that the port will be constructed in two phases. The first phase will require an investment of $600 million, while the remaining $300 million will be spent on the project's second phase. The establishment of the port is just one part of POSCO's $12 billion steelworks project in Orissa.