Posco's new chief executive said the South Korean steelmaker will restructure non-steel businesses and not make any major investment in increasing steelmaking capacity, in a marked break from the strategy of his predecessor.
An Indian tribunal has suspended the environmental licence for Korean group Posco's $12 billion steel project in the eastern state of Orissa, the country's biggest foreign direct investment, in a fresh blow to business confidence in Asia's third-l
Posco, the world's third-largest steelmaker, sees an improving global steel market in the next three months, after bottoming out this quarter, and is considering reducing price discounts as the recovery takes hold.
The Korean firm last mon
India's environment ministry gave a conditional green light on Monday for South Korean Posco's $12 billion steel mill, a government statement said.
This is seen as a boost for the foreign investment climate after a series of setbacks for b
PT Krakatau Steel, Indonesia's biggest steelmaker, said on Tuesday it will invest $1.2 billion in the first phase of its joint venture with South Korea's Posco, using funds from its $390 million IPO in November.
Fazwar Bujang, Krak