Posco to visit Karnataka again on steel plant set-up

"Intent (by Posco on setting up of the plant) has already been indicated. They have visited us once. They are again coming most probably next week", Karnataka's Commissioner for Industrial Development and Director of Industries and Commerce, Raj Kumar Khatri said here today.

"Broadly, it (Posco's) is an integrated steel plant with four and six million tonne capacity (annually). It (the investment) will come to about Rs 20,000 crore to Rs 25,000 crore", he said.
Unlike ArcelorMittal, which has already filed an application and also applied for mining leases, Posco has so far given a letter of intent and "they (Posco) are working on it, they are exploring it (the project)", Khatri said.

Last month, ArcelorMittal, the world's largest steel producer, short-listed sites in north Karnataka to set up a six-million-tonne per annum integrated plant, for which it plans to invest Rs 30,000 crore.

ArcelorMittal also plans to set up a power plant of 750 mw capacity.
"Both the projects (steel and power plants by ArcelorMittal) are expected to generate employment opportunities to nearly 10,000 persons", Chief Minister B S Yeddyurappa said last week.

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