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India: Amid resistance from communities, POSCO offers to surrender land acquired for $12-billion steel project
POSCO India Private Limited, an Indian subsidiary of Korean conglomerate POSCO signed a memorandum of understanding in June 2005 with the state government of Odisha to construct a $12 billion steel plant in the Jagatsinghpur district of Odisha....
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It’s official now that South Korean steel major Posco has scrapped the plan to set up a 12-million tonne (mt) steel mill in Paradip, Odisha. It has written to the state government that it wants to surrender the land allotted for the project...Though...
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