Posco to infuse $1bn greenfield plant in Maharashtra

South Korean steel major Posco is mulling to set up a $1 billion greenfield steel processing facility in Maharashtra. The steel giant is negotiating for land acquisition with the Maharashtra Industrial Development Corporation (MIDC) for a phased investment in industrial estate in Raigad district.

The location is in proximity of Delhi-Mumbai industrial corridor as well as afoot to the link the port with Konkan Railway and it is of immense logistics importance to the company. However, the proposal may face a roadblock on the backdrop of absence of drinking water and water bodies near by the project area.

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