POSCO-India Private Limited is a subsidiary of POSCO, the world’s fourth largest steel producer and one of the most competitive steel companies in the world (World Steel Dynamics 2006). POSCO-India’s proposed investment is the highest ever Foreign Direct Investment in India. The making of this world class steelworks with 12 million tons per annum will not only provide extensive value addition to the mineral wealth of Orissa but also take the state and nation to the zenith of global steel industry.
The mega integrated steel plant of POSCO-India in Orissa will lead to significant growth and investment in the country. Owing to the unique nature of the steel industry, which requires large equipment facilities, the project is envisaged keeping in mind sustained advancement over decades.
The project as a foundation to industrialization and growth in the state will create enormous opportunities for developing ancillary and down-stream industries. It will be a true locomotive for futuristic growth and innovations.
In India, the thriving steel industry is a significant indicator of the rapid growth of the Indian economy. POSCO-India with an investment of US$12 billion (Rs 51,000 crore) and 12 MTPA fully integrated steel plant in Orissa, will leverage India’s resources and use an eco-friendly, state-of-the-art FINEX technology to help make its mark in the global steel arena.
POSCO-India desires to nourish hope and dreams for the new generation who will grow together with the development in this region. Be part of this exciting venture by contributing to the progress of India.