POSCO to build steel plant in India

South Korea's steelmaker POSCO plansto construct a 323 billionrupees (US$7.1 billion) steelplant in southern India. Thesteel giant will break groundin March on a new CGL(continuous galvanizing line)plant with an annual capacityof 400,000 tons, and it willbegin to lay the groundwork. T h e l a u n c h i n g o foverseas SCM (supply chain management)units and manufacturing facilities will alsocontinue in the company`s efforts to beef up production outside ofKorea. POSCO, which wasoperating 42 processingcenters and distributionunits in 12 countries as of2009, will begin to lay thegroundwork in Indonesia inSeptember for an integralsteelwork plant, which willbe built in collaborationwi th the state- run localmaker PT Krakatau Steel.It will also add more SCM units at itskey overseas production bases, includingChina, Vietnam and United States.sneakers