Conditional nod to Posco project in Orissa

The environment ministry Monday gave conditional clearance to South Korean steel major Posco’s $12 billion project in Orissa, the biggest foreign direct investment in the country. Posco is an integrated steel, mining and port project and separate clearance had to be given to all three. It also comprises a captive power plant to provide electricity

ArcelorMittal again gets nod from Canadian company for takeover

ArcelorMittalBacking ArcelorMittal once again, Toronto-based Baffinland Iron Mines Corporation has asked its shareholders to reject the higher offer by rival Nunavat Iron Ore Acquisition Inc and opt for the world’s biggest steel company. Nunavat made its offer of $1.45 a share at the weakend against ArcelorMittal’s $1.40 a share for the Toronto company. ArcelorMittal made