POSCO's 12 Million-Ton Indian Steel Project Stalls Again

JOHANNESBURG--April 30, 2013--Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--When you are a company pursuing the largest foreign investment project in India's history, you would expect that after a couple of years of finessing interest groups and the government, some clarity and direction would emerge. For POSCO (NYSE:PKX) (Seoul, South Korea), it appeared that a go-ahead for its $12 billion steel mill project was certain, but it now seems that the company can consider the deal done only when, and if, the plant is up and running.