RINL privatisation prompts Posco to explore new locations for steel plant

Andhra govt has invited Posco to set up a unit at Krishnapatnam, but steel major has not taken a decision yet

Topics
Posco | RINL | Steel Industry

Ishita Ayan Dutt  |  Kolkata 

The central government’s decision to privatise Rashtriya Ispat Nigam Ltd (RINL) has prompted South Korean steel major Posco to explore new locations for setting up a steel plant.

Sources close to the development said that with the government deciding to privatise RINL, Posco was facing yet another barrier. “Posco has been exploring investment in India like other global steelmakers ArcelorMittal, but it has not made any progress,” they said. Now, the Andhra Pradesh government has invited Posco to set up a plant in Krishnapatnam, but no decision has been made by the ...

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First Published: Wed, April 14 2021. 14:04 IST
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