Posco team to visit Karnataka to explore mining linkages

A technical team from South Korean steel major Posco would visit Karnataka soon for exploring mining linkages to its proposed Rs32,300 crore steel plant in the state.

A Karnataka delegation, led by minister for large and medium scale industries, Murugesh R Nirani, met top management
executives of Posco at the company headquarters in Seoul, an official statement said in Bangalore today.

"They (the executives) expressed their happiness for having approved the projects for establishment of six million tons per annum integrated steel plant with finex technology in Karnataka with investment of Rs32,300 crore", it said.

They held discussions on the investment plan and mining lease for their unit, and informed that they would be sending a technical team to Karnataka for exploring mining linkages.

The minister assured the company all support from Karnataka government for establishing their plant.

The delegation is in Seoul as part of Karnataka's roadshow for the Global Investors' Meet to be held in Bangalore on June 3 and 4.