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POSCO-India Corporate Office relocates owing to growing number of employees

Indians take charge of key portfolios
Company to set up country head office in Bhubaneswar

Bhubaneswar, August 10, 2006: POSCO-India, the Indian subsidiary of POSCO– the third largest steel manufacturer in the world is growing from strength to strength as more number of Indian employees mostly Oriyas are coming to its fold. The company’s corporate office has recently been relocated to Fifth Floor, Fortune Towers, Maitraiee Vihar.

The new office can accommodate over 70 people and currently 54 employees are stationed here. It offers a pleasant working environment for the employees with ultra modern facilities and system.

In 2005 March, when the corporate office of the company came into being, there was only one Indian staff to begin with. Within a span of one year, POSCO-India has grown and now boasts of 62 Indian and 31 Korean employees working for the company.

Indians have taken charge of various key portfolios within the company. Mr. T.C. Hota, earlier associated with a reputed metals and ferroalloys group has joined the company as Vice President, Mining Division. Mr. Dhananjay Pandey, the General Manager Human Resources in POSCO-India is from a renowned steel making group. Major P.K. Dash earlier associated with a premium Industry house in India has taken over charge as the new General Manager for Rehabilitation and Resettlement in the company. Mr. Avinash Tiwari, working for a prestigious public sector undertaking earlier, has taken charge as the Senior Manager, Administration in the company.

Indian employees are working in different sectors like Iron Ore and Coal Mine, Water Supply, Power, Road, Ancillary Industries, Rehabilitation & Resettlement, Township Design, Construction, Human Resource, Administration, Accounts/Finance, Law, IT, PR etc. In addition, POSCO-India is currently recruiting in areas like Mining and Public Relations.

POSCO-India plans to have its country head office at Bhubaneswar in future. POSCO in Korea has its business headquarters in Pohang where its steelworks is situated and contributes to the socio-economic and cultural development of the area in varied ways. Similarly POSCO-India has plans to join hands in the widespread development of Bhubaneswar and its periphery by setting up its office here.

About POSCO-India

POSCO-India Private Limited is a subsidiary of POSCO, the world’s No. 3 steel producer and one of the most competitive steel companies. POSCO signed a Memorandum of Understanding (MoU) with the Government of Orissa in June 2005, to set up a 12-mtpa green-field steel plant near Paradip, Jagatsinghpur District, Orissa, with an estimated investment of USD12 billion. The company will build a 4 million tonne capacity steel plant in Orissa, during the first phase of its project between 2007 and 2010 and expand the final production volume to 12 million tonnes. POSCO-India Pvt. Ltd. was incorporated in 25th August 2005 with the Registrar of Companies, Orissa, under the Companies Act 1956.