South Korea's Posco scraps India steel project after delays

[Devil Soul]

South Korean firm Posco says it has scrapped a proposed steel project in the Indian state of Karnataka after delays and local opposition.

The company said it had dropped the $5.3bn (£3.5bn) project in the state's Gadag area after protests against the acquisition of land for the plant.

But it made clear it will proceed with a planned $12bn plant in eastern Orissa state which has faced similar protests.

The Orissa project would be India's biggest foreign investment.
BBC News - South Korea's Posco scraps India steel project after delays

 

[GURU DUTT]

South Korean firm Posco says it has scrapped a proposed steel project in the Indian state of Karnataka after delays and local opposition.

The company said it had dropped the $5.3bn (£3.5bn) project in the state's Gadag area after protests against the acquisition of land for the plant.

But it made clear it will proceed with a planned $12bn plant in eastern Orissa state which has faced similar protests.

The Orissa project would be India's biggest foreign investment.
BBC News - South Korea's Posco scraps India steel project after delays

and your point/intention is

 

[indiatester]

South Korean firm Posco says it has scrapped a proposed steel project in the Indian state of Karnataka after delays and local opposition.

The company said it had dropped the $5.3bn (£3.5bn) project in the state's Gadag area after protests against the acquisition of land for the plant.

But it made clear it will proceed with a planned $12bn plant in eastern Orissa state which has faced similar protests.

The Orissa project would be India's biggest foreign investment.
BBC News - South Korea's Posco scraps India steel project after delays

I feel sorry for Posco. People and govt. departments just refuse to give it land and permissions. Its surprising that they are sticking around after so much delay

 

[Devil Soul]

and your point/intention is

The same what are urs when u post news related to Pak

 

[Dash]

Actually if anyone sees, people dont get much benifit from PSOCO plants. They have a completely automated system to provide any major direct employment. Thats why there is a resistance.

The local people dont benifit much.

 

[GURU DUTT]

The same what are urs when u post news related to Pak

so that means your finding it funni and happy about the fact that posco is not investing in karnataka plant but is stikking to the orissa one which has way much more local opposition well bhai the fact is congressies are asking for way too much commission thanks

 

[HongWu]

Good move by Koreans. India is economically collapsing.