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Recession, business concerns behind Arcelor, Posco exit: Beni

Last Updated: Sunday, August 4, 2013, 16:27

Recession in the global steel market coupled with "business concerns" may have driven steel giants ArcelorMittal and Posco to resort to scrapping their Indian projects worth USD 18 billion, Steel Minister Beni Prasad Verma said Sunday, breaking silence on their pullout.

POSCO's global expansion plan hits India roadblock

Last Updated: Thursday, July 25, 2013, 08:53

POSCO, which reports its June quarter earnings on Thursday, is expected to show a nearly 40 percent drop in year-on-year profits.