Synopsis: Since its inception, the POSCO-India project has been mired in controversy with issues related to ML, SEZ status, Captive Port , R&R and ecological impact. The project has already been delayed as it was scheduled to start work by April 11, 2007 .

“There has been a delay of over two years. The total investment planned is around Rs. 52,000 crore and it would be made in phases,” Mr. S.K. Mahapatra, GM (HR), POSCO-India said.

The plant capacity will make the project not only the biggest in the country but also one of the biggest in the world. The plant is slated to provide a steady revenue stream to both the Centre and the State Govt.

The POSCO project is not only important for the Korean steel giant but also a litmus test for investment in India and future economic tie-ups between Korea and India . Successful completion and operation of the project would give positive signals to similar proposals from other Korean companies.