POSCO India to Construct 1.8 Million-Ton, Cold-Rolled Steel Mill in Maharashtra

BANGALORE, INDIA--November 17, 2010--Researched by Industrial Info Resources (Sugar Land, Texas)--Pohang Iron and Steel Company (NYSE:PKX) (POSCO) (Pohang, South Korea), the world's third-largest steel producer, will build a 1.8 million-ton-per-year, cold-rolled sheet production facility in Maharashtra. The products from this plant will be supplied to Indian white goods and automobile manufacturers. The proposal for this project has been submitted to the company's board for approval. Decision on the project is expected next month. POSCO is likely to invest $500 million in the facility. However, the company has not confirmed these investment details.

Other companies featured: Steel Authority of India Limited (BSE:500113)