POSCO expects to start operations in Orissa by 2009
South
Korea's steel giant POSCO has announced that it expects to commence operations at Orissa by December 2009. The Orissa project covers establishment of steel mills and
iron ore mines in the region. However, POSCO's project is still subject to the approval of the Orissa state government.
As previously reported by SteelOrbis, POSCO and Australian
BHP Billiton applied to the Orissa government to invest $8.4 billion in the region.
The POSCO-
BHP Billiton project covers establishment of integrated steel mills, which will have an annual
production capacity of 10 million tons, and development of mines to produce 30 million tons of
iron ore per annum.