Posco India to scale down operations: Sources
Ruling out reports that the South Korean steel giant Posco would scale down both manpower and proposed investments in India, the company on Thursday said its plans for the country are intact and that there are no layoffs in the offing. Private broadcaster NDTV quoting "sources" reported that the company, which has proposed to set up a 12 MTPA integrated steel plant in Orissa at an estimated investment of about Rs 51,000 crore, has asked its senior local officials to leave.
