Posco offers scholarships to Indian students

The Indian subsidiary of world's 4th largest steel manufacturer announced this to promote academic ties between Delhi and Seoul.

Posco-India, the Indian subsidiary of the fourth largest steel manufacturer in the world, on Thursday announced scholarships and grants for meritorious students in the country to promote academic collaboration between New Delhi and Seoul.

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Posco TJ Park Foundation, a foundation launched last year in September by Posco after the name of its founder Park Tae-joon, will award scholarships to 60 students, research grants to two scholars and fellowships to five Indian students.

The South Korean steel major is setting up a steel plant near Paradip in Jagatsinghpur district of Orissa by 2016 with an estimated investment of $12 billion. The deal with the Orissa government, signed in June last year, is one of the largest foreign direct investments in India.

"This is a long-term commitment made by Posco-India so that maximum number of students benefit from this project," the company said in a press release.

"Fifty per cent of the scholarships, grant and fellowships will be given to students from Orissa," it said.