Friday, 04 Feb 2011
Just a day after the environment ministry granted conditional clearance to POSCO for its USD 12 billion Orissa steel project, the South Korean steel major has reaffirmed its India plans with a second proposal.
According to Mr VP Baligar Karnataka principal secretary (commerce and industries), POSCO has selected Halligudi in Gadag district of Karnataka to build its proposed 6 million tonnes plant at an estimated investment of about 32,000 crore.
Mr Baligar said that POSCO has sought 3,000 acres for setting up the plant and has already made the initial deposit with the Karnataka Industrial Development Board towards acquisition of land. The state government will now begin the land acquisition process.
POSCO has already applied for a captive iron ore mining lease with the state government inviting bids for fresh licenses.(sourced:ET)
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