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POSCO Finally Throws In The Towel On Its India Steel Venture; A 'Lost Cause,' Indeed

2015-07-23 17:21:40| Steel - Topix.net

Normally, when a project of this size is called off, it sends ripples throughout the entire steel sector, and even negatively affects the stock market. Yet, when a few days ago, South Korean steelmaker POSCO let it be known that it had decided to put its much-vexed $12 billion project to build a steel plant in India's iron ore-rich state Odisha on hold, the reaction in India as well as globally was muted.

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