Rs 32,300 cr Steel Project - Murugesh Nirani Holds Talk with POSCO
From Our Special Correspondent
Daijiworld Media Network

Bangalore, Apr 6: Karnataka’s large and medium industries minister Murugesh R Nirani has led a high-level delegation to Seoul in South Korea for holding talks with key top management executives of the global steel giant, POSCO, on its proposal to establish a 6 million tonnes per annum integrated steel plant with a total estimated investment of Rs 32,300 crore in the state.

POSCO  is planning to set up the integrated steel plant with state-of-the-art finex technology and also have its own captive power generation plant in Karnataka.

The delegation visited the POSCO headquarters in Seoul and was assured of the imminent visit of the company’s technical team to Bangalore shortly. The minister assured the POSCO management that the state government would sanction a suitable mining lease and other facilities for setting up their proposed intergrated steel plant in the north Karnataka region.

The Murugesh Nirani-led delegation comprises of Karnataka’s top officers including principal secretary of commerce and industry department V P Baligar, principal secretary of IT, BT & Science and Technology department Ashok Kumar Manoli, commissioner of industries Dr Rajkumar Khatri, director of mines and geology department M E Shivalinagamurthy, Karnataka Udyog Mitra managing director Shivaswamy and Skand R Dayal, Indian Ambassador to the Republic of Korea.

According to an official press release issued by the Karnataka Udyog Mitra office, Karnataka’s delegation also met various other representatives of Indian companies in South Korea and discussed about the investment opportunities and the facilties provided by the state government for investments in the state. Infrastructure, power and petrochemical besides R & D sectors would be given priority.