[Ferro-Alloys.com] Recently, the POSCO Chairman and Chief Executive Officer Quan Wujun (Kwon Oh Joon) said that its India Orissa steel project no progress was made, therefore, will be temporarily stopped.

During the investor meeting held in Seoul on July 15, POSCO mentioned that due to falling global demand for steel, the company's subsidiary, losses, business conditions , therefore, it has to change business policy for both domestic and oversea market. In the meantime, It is reported that Posco its India Orissa steel plant has been facing raw material, land acquisition and other issues of approval extension.

• [Editor:Yueleilei]