POSCO says to start Indian project as scheduled

Seoul, May 23: POSCO, the world's third-largest steel maker, said on Wednesday it will start constructing a steel complex project in India in October as scheduled.

''We expect to solve the problem soon in securing land and start construction in October,'' Lee Dong-hee, POSCO's Chief Financial Officer, told Reuters.

In 2005, POSCO signed a contract to build a billion integrated steel complex in Orissa state, the largest single foreign investment in india. But the project has been hampered by local protests.

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