Bhubaneswar: POSCO-India Private Limited, the subsidiary of the South Korean steel major, decided to set up a Human Resources Development Centre at Paradip with an estimated investment of 10 mn.
The announcement came on eve of the company's 38th foundation day on April one, which incidentally coincides with Orissa's foundation day.
"POSCO-India has earmarked an estimated investment of about 10 million dollar for setting up the training centre," the company said in a release. The construction of the training centre was expected to commence in June 2006 and to be completed by 2007, the company said.
It said the proposed centre with its various training modules targeted at POSCO-India employees and the local residents would be able to train about 250 people at a time.
POSCO-India is the Indian subsidiary of South Korean steel major Posco.
The company has proposed to invest Rs 51,000 crore, the highest ever foreign direct investment in steel sector in India so far, for setting up of 12 million tonne per annum capacity steel plant near the port town of Paradip.
POSCO's controversy-ridden project near Paradip was being opposed by environmentalists, conservationists and local people who apprehended to be displaced by the project.
