POSCO, the world's third-largest steel maker, said on Wednesday it will start constructing a steel complex project in India in October as scheduled.
"We expect to solve the problem soon in securing land and start construction in October," Lee Dong-hee, POSCO's Chief Financial Officer, said.
In 2005, POSCO signed a contract to build a USD 12 billion integrated steel complex in Orissa state, the largest single foreign investment in India. But the project has been hampered by local protests.
----By Financial Express Homepage
"We expect to solve the problem soon in securing land and start construction in October," Lee Dong-hee, POSCO's Chief Financial Officer, said.
In 2005, POSCO signed a contract to build a USD 12 billion integrated steel complex in Orissa state, the largest single foreign investment in India. But the project has been hampered by local protests.
----By Financial Express Homepage