South Korean steelmaker POSCO has asked the eastern state of Odisha in India to take back land it acquired for a $12 billion steel project as it has not been able to start work, two senior state officials said on Saturday. The move could be a sign that the world's fourth-biggest steelmaker is scrapping the proposed 12 million-tonnes-a-year steel plant in the Indian state.
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South Korean steelmaker POSCO has asked the eastern state of Odisha in India to take back land it acquired for a $12 billion steel project as it has not been able to start work, two senior state officials said on Saturday. The move could be a sign that the world's fourth-biggest steelmaker is scrapping the proposed 12 million-tonnes-a-year steel plant in the Indian state.
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