Posco-India, which had initially proposed to invest $12 billion to set up a 12-million-tonne per annum (MTPA) steel plant on 4,004 acres of land near Paradip in Orissa, has submitted a revised proposal to the state government seeking transfer of 2,700 acre land in its favour for establishing a 8 MTPA factory.

“Recently the revised proposal for Ac 2700.00 land was given by Posco India for establishment of 8 MTPA steel plant,” the state government said while submitting the latest status report on India’s biggest foreign direct investment project to the Central government.