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Posco Puts Off Plans For India Steel Plant

By Staff -- Purchasing, 3/13/2008

Korean Steelmaker Posco said it will raise steel prices in light of new iron contracts and has postponed plans to open its 12 million metric ton steel plant in India in April after locals protested the plant's construction. In a Reuters interview, Posco president Lee Ku-taek said the company will also decide later about construction of a steel plant in Vietnam, instead focusing on development of iron-ore assets.
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