POSCO expands operations in India

South Korean steel giant POSCO has expanded its operations in India, by setting up its second steel processing centre in Pune with an investment of $14.4 million. POSCO is building a mega steel plant in India with an estimated investment of $12 million. The project is likely to be completed by 2016 and is considered as the largest foreign direct investment in India. POSCO, through its process centers in Chennai and Pune, is already in a position to meet growing needs of southern and western India.