March 15, 2010 / 5:46 AM / 10 years ago

POSCO to invest $240 mln in Maharashtra steel plant

Protesters stand on the roof of the headquarters of POSCO as they occupy the building in Pohang, about 370 km (230 miles) south of Seoul, in this July 2006 file photo. REUTERS/Kim Kyung-Hoon

SEOUL (Reuters) - South Korea’s POSCO, the world’s No.4 steelmaker, said on Monday it would invest $240 million to build a galvanising steel plant in Maharashtra.

The continuous galvanising line producing steel products for automobiles and electronic goods is set to be completed in May 2012 with an annual production capacity of 450,000 tonnes, POSCO said in a statement.

(Reporting by Cho Mee-young; Editing by Jonathan Hopfner)

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