POSCO to set up 8 MT Steel Unit in Orissa

POSCO to set up 8 MT Steel Unit in Odisha

Officials of South Korea’s steel maker POSCO wednesday reiterated their resolve to set up a steel plant with the original 12 MTPA capacity in Jagatsinghpur district. However, the company will first go for an eight million tonne plant with the available land and expand subsequently once rest of required land is made available.

POSCO India Chairman-cum-Managing Director Yong Won Yoon after a 90 minute meeting with Chief Minister Naveen Patnaik at the Secretariat here wednesday said the plant requires 2700 acre of land to set up a steel plant with an initial capacity of 8 MTPA.

“The Govt has acquired 2000 acres of land of which only 500 acres of land has been handed over to us”, he said.

“The company will stick to its original plan and will set up the plant with 4 MTPA capacities each in three phases. We will expand the company, once rest of the required land is made available,” yoon added.