Arcelor, POSCO gear up for steel plant in K’taka

The world's major steelmakers, the ArcelorMittal and the South Korean POSCO have plans to invest Dollar14 billion in India, despite several delays in their existing and proposed projects in the country. After meeting steel magnate Lakshmi Niwas Mittal on Thursday, Karnataka chief minister B S Yeddyurappa said that Mittal would ink an accord in June to spend 300 billion rupees for a steel plant with a capacity of 6 million tonnes per annum in Karnataka.