Government to sign $1.5 bn pact with steel major Posco

The Government of Maharashtra will enter into an agreement with South Korean Posco for the expansion of the latter’s steel reprocessing facility in the state at $1.5 bn. The government may also provide tax concessions to the company. It has already granted a mega project status to the facility. Posco will reprocess cold rolled and austenitic stainless steel at the facility at Vile-Bhagad and Palasgaon industrial areas in Raigad district.Contact: Government of Maharashtra.Website: www.maharashtra.gov.in