Click it and Unblock the Notifications
SKorea POSCO unit wins $ 350 mn order from India
Seoul,
Sept
20:
A
unit
of
POSCO,
the
world's
fourth-largest
steel
maker,
said
on
Thursday
that
it
had
won
a
$350
million
order
to
build
India's
biggest
blast
furnace
from
state-run
Steel
Authority
of
India
Ltd
.
The furnace, which will be located north of Kolkata, will have the capacity to produce 2.7 million tonnes of steel a year, POSCO Engineering&Construction Co said in a statement.
Construction would be complete by March 2010, it said.
A spokesman for SAIL, the country's largest steel producer, said the furnace would have a capacity of 4,060 cubic metres.
SAIL produces 14 million tonnes of steel annually, 30 percent of the country's production.
Last month, SAIL announced a partnership with the Korean firm.
POSCO plans to build a $12 billion steel complex in the eastern Indian state of Orissa, which would be India's largest foreign direct investment project.
Reuters
>
