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Posco ready to sacrifice export clause; new pact soon

Under the new clause, the steel giant will be allowed to swap up to 30 percent of the required iron ore within the country through the Orissa Mining Corporation (OMC), Mohanty said.

POSCO hopes to start work on 8 MT plant in Orissa by October

South Korean steel major POSCO may kick off work on its initial 8 million tonne per annum (MTPA) project near Paradip in Odisha by October if the state government transfers 2,700 acres of land to it.