Frustrated over delays in getting approvals for its Rs 52,000 crore (Rs 520 billion) steel project, South Korean steel giant Posco is reviewing its investment plans in India while looking at other options in South East Asia.
The company has told the central and the Orissa government that "if matters were not sorted out within the next two-three months, it could re-consider its investment plans in the country," official sources said.
The Korean giant has sought categorical assurance from the government on various issues for its 12 million tonne project. Posco officials have asked the Navin Patnaik government to spell out its stand on the project "as it cannot afford to wait for an indefinite period," the sources said.
Posco India officials, when contacted, declined to comment. Meanwhile, Posco's chief