POSCO India Private Limited (commonly POSCO India or Posco-India) is an Indian subsidiary of Korean conglomerate POSCO.Its parent company POSCO signed a memorandum of understanding in June 2005 with the state government of Odisha to construct a $12 billion steel plant. Various regulatory delays and controversies prevented the company from starting construction. The memorandum expired in June 2011, and as of April 2012, it has not been renewed.