South
Korea's Posco dropped plans to build a $5.3 billion steel plant in the
Indian state of Karnataka, dealing another blow to New Delhi's struggle
to attract foreign capital.
 |
A file photo of supporters of the Communist Party of India at a protest rally in New Delhi against Posco.
Saurabh Das/Associated Press |
Dealing another blow to New Delhi’s struggle
to attract foreign capital, South Korean steelmaker Posco said it has
given up plans to build a plant in the southwestern Indian state of
Karnataka. The world’s fourth-largest steelmaker by output signed a
preliminary agreement three years ago to build the $5.3 billion
facility, with capacity to produce [...]
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