Berkshire Backed Posco Closure Could Displace 22,000 People

The United Nations said that the South Korean company POSCO (ADR) (NYSE:PKX) (KRX:005490)’s steelmaking project in eastern India could displace more than 22,000 people, putting them at risk of falling into poverty, the AFP reports. UN experts have asked Posco, which Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) owns a 5.1 percent stake in, to stop construction on the plant immediately. POSCO’s largest foreign investment in India POSCO (ADR) (NYSE:PKX) (KRX:005490), which is the world’s fourth largest steelmaker, has said that it will continue with the $12 billion project which will be the largest foreign investment in India once it is completed….