POSCO may invest Rs 400 billion in Orissa

POSCO may invest Rs 400 billion in Orissa

South Korean steel giant POSCO is reportedly planning to invest Rupees 400 billion ($8.85 billion) in Orissa to build the largest steel plant in India. Moreover, the planned steel plant is expected to create 40'000 jobs in Orissa. As reported by SteelOrbis last week, POSCO announced that it could prefer West Bengal over India for investment as the Orissa government delayed the approval of the project. However recent reports indicate that POSCO's initial plan will not change.