South Korea's POSCO offers to surrender land for planned India steel project

South Korean steelmaker POSCO has asked the eastern state of Odisha in India to take back land it acquired for a $12 billion steel project as it has not been able to start work, two senior state officials said on Saturday. The move could be a sign that the world's fourth-biggest steelmaker is scrapping the proposed 12 million-tonnes-a-year steel plant in the Indian state.

 

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