Posco scraps plan for $5.3B steel plant

Posco scraps plan for $5.3B steel plant in India
Associated Press

FILE - In this May 16, 2010 file photo, Indian villager Kabita Sahoo sits inside her house, burnt during violence between anti-Posco activists and police at Balitutha village in the eastern Indian state of Orissa. South Korean steel giant Posco said Tuesday, July 16, 2013, it has pulled out of a proposed $5.3 billion steel plant in southern India due to delays in acquiring land for the project. However, the company says it will go ahead with a separate $12 billion steel plant in eastern Orissa state. (AP Photo/Biswaranjan Rout, File)

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