POSCO to make comeback to Odisha!


Bhubaneswar: POSCO, the Korean Steel giant, has plans to make one of the single largest FDI in the history of India with an investment of US$ 12 Billion to set up an integrated steel plant in Odisha, said a statement issued by the state Industries department.

The Indian Chamber of Commerce in association with IPICOL, Government of Odisha organized a Roundtable on South Korea & Odisha: Promoting Bilateral Business Opportunities 19 April 2021 at Bhubaneswar.

Industries Minister Divya Shankar Mishra said that Odisha and Korea have many possibilities to collaborate across the identified focus sectors of the state.

He also said that Odisha is in the process of implementing a strategy document, Vision 2030 which aims to ensure that 50% of the primary metal produced in the State value added with Odisha.

Shin Bongkil, Ambassador of South Korea to India, informed that 66 new Korean companies have entered India in last 1 year.

Korean companies have made an investment of US$17 million in 2020 as compared to US$ 21.15 million which is a very good figure keeping in view the pandemic situation, he told.

He also informed that POSCO, the Korean Steel giant has plans to make one of the single largest FDI in the history of India with an investment of US$ 12 Billion to set up an integrated steel plant in the state of Odisha.

Dr Young Seaon Park, Director, KOTRA said that the Korean companies are very eager to work in the areas of Renewable Energy, Water Treatment & Smart City Projects.

Business to business meetings will be organized in the month of September 2021 for exploring opportunities in Smart City Projects.

IPICOL Managing Director Nitin B Jawale showcased the strength & diversity of Odisha.

He also elaborated on the Vision 2030 of Odisha.

He informed that Odisha is expecting an investment of Rs 200000 crores.