Karnataka - Bangalore   

Posco plant unlikely in Karnataka

Bangalore: The Karnataka government is unlikely to clear any proposal from Korean steel major Posco for a steel plant in the State, even if the company decides to locate the plant in the State, Minister for Large and Medium Industries told The Hindu on Tuesday.

Speaking to journalists about preparations for the Global Investors' Meet, which commences on Thursday, Mr. Nirani said, “Posco may not be cleared because the government would like to conserve raw materials such as iron ore for future generations.” He explained that the government has adopted a first-come first-served approach, especially when dealing with scarce resources.

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