POSCO to invest $240 mln in India steel plant

Posco to build $240 million steel plant in India. Posco, the world's fourth-largest steel maker by output, said it will invest $240 million to build a steel processing plant in Maharashtra by May 2012. Posco plans to produce 450,000 metric tons a year of high-end steel products from the plant that will be used in automobiles and home appliances, the company said in a statement.