India says Posco should not export iron ore from Orissa plant

- May 2nd, 2011

Reuters Africa reports that India’s environment minister said POSCO (SEO:005490), which wants to build a $12 billion steel plant in eastern India, should not export raw materials, including iron ore.

Reuters Africa reports that India’s environment minister said POSCO (SEO:005490), which wants to build a $12 billion steel plant in eastern India, should not export raw materials, including iron ore.

The market news is quoted as saying,

POSCO signed an agreement with the Orissa state government in 2005 and it was scheduled to begin production by the end of 2011. But protests, environmental worries and litigation over a related mining concession have delayed what is India’s biggest foreign direct investment.

For the complete market news, click here.

Get the latest Iron Investing stock information

Get the latest information about companies associated with Iron Investing Delivered directly to your inbox.

Iron Investing

Tags

Tags: ,

2 responses to “India says Posco should not export iron ore from Orissa plant

Leave a Reply