Posco, biggest FDI, gets green flag after 8 long yrs

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Posco's proposed 12 mn-tonnes-per-year plant has been stuck for more than 8  years due to delays in getting clearances and acquiring land. (Reuters Posco's proposed 12 mn-tonnes-per-year plant has been stuck for more than 8 years due to delays in getting clearances and acquiring land. (Reuters
SummaryGift to visiting S Korean President days after Moily takes charge from Jayanthi.

told Reuters. This will mean the project’s cost will go up by $ 600 million to $ 12.6 billion.

LEE said, “Though an additional burden has been put on us, we are happy with the revalidation (of environmental clearance). It means the removal of a hurdle for us.”

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