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It's reported that Korean steel giant Posco is considering to draw out a US$5.3 billion steel mill project in India's Karnataka state. Posco is trying to expand in oversea and signed a preliminary agreement with the state in 2010. However, the opposition from residents and political instability may lead Posco to face difficulty to move up. News Date 7/16/2013 3:33:59 PM reported by Margaret Yeh