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POSCO may set up CR mill in Maharashtra

Steel News - Published on Mon, 15 Nov 2010

World\'s No 3 steelmaker South Korea\'s POSCO said that it is considering building a plant in India to manufacture cold rolled steel sheet for automobiles and home appliances, to tap into the growing market.

A POSCO official, declining to disclose the size of its investment, said that the factory would have an annual output capacity of 1.8 million tonnes.

He said “The plan is subject to approval by our investment deliberation committee.”

The Maeil Buinsess Newspaper reported on Monday that the investment was estimated at around USD 500 million, adding that POSCO planned to break ground for the plant in the western Indian state of Maharashtra, next year, after board approval as late as next month.

POSCO also said in March that it would invest USAD 240 million to build a steel-galvanising plant in Maharashtra state with an annual production capacity of 450,000 tonnes.

(Sourced from Reuters)

Posted By : admin on Mon, 15 Nov 2010
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