POSCO says drops $5.3 billion steel mill project in Karnataka

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Reuters SEOUL
Last Updated : Jul 16 2013 | 10:45 AM IST

SEOUL (Reuters) - South Korea's POSCO said on Tuesday it has decided to pull out of a $5.3 billion steel mill project in Karnataka due to delays in securing land and opposition from residents.

A source told Reuters earlier on Tuesday POSCO was considering dropping the project.

(Reporting by Miyoung Kim; Editing by Jeremy Laurence)

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First Published: Jul 16 2013 | 10:32 AM IST

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