The government of the southern Indian state of Andhra Pradesh has invited South Korean steelmaker POSCO to discuss setting up a greenfield steel mill project at Krishnapatnam in the state, a government official said on Monday, March 1.
The official said that special secretary to the state government, Karikal Valaven, has sent a formal invitation to POSCO chairman Sung Lee Chun to hold a discussion on the South Korean steel major investing in a project in the state, which would be facilitated by the state government.
The invitation of the state government comes against the background of the Indian central government announcing its planned 100 percent disinvestment in the 7.3 million mt steel company, Rashtriya Ispat Nigam Limited (RINL), to a private investor.
RINL and POSCO had previously signed a memorandum of Understanding (MoU) to explore options of constructing a greenfield steel mill project located on surplus land available at RINL’s existing mill located in the port town of Vishakhapatnam.
