POSCO may prefer West Bengal over India

POSCO may prefer West Bengal over India

South Korean steel giant POSCO is reportedly planning to invest in West Bengal if the Orissa government delays giving approval to POSCO's project regarding establishment of a 10 million ton steel plant in the Orissa state of India. POSCO officials stated that they applied the Orissa government for their project four months ago; however the Orissa government has not approved the project yet. Upon the delay in the approval, POSCO officials stated that they may consider West Bengal as an alternative to Orissa. The officials also expressed that they may prefer West Bengal due to its proximity to the port and the availability of crucial raw materials for steelmaking in West Bengal. As reported by SteelOrbis yesterday, Indian steel producer Jindal also preferred to invest in West Bengal due to the same reasons.