Posco, the South Korea
based steel manufacturer plans to set up a $1 billion (Rs.4,800 crore)
greenfield steel processing facility in Maharashtra.
The land acquisition
process for the project is under way at the Maharashtra Industrial Development
Corporation-run Vile Bhagad industrial estate in Raigad district. The company is
planning to carry out the investment in phases. It is eager to use Dighi port,
which is close to Vile Bhagad, for transporting raw materials and finished
goods.