POSCO says drops $5.3 billion steel mill project in Karnataka

SEOUL (Reuters) - South Korea's POSCO <005490.KS> 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)