Pohang Steel Company (Posco), the world’s fifth-largest steel maker has offered to sell its mini steel mill at Kwangyang steel plant in South Korea to Indian steel firms for 100 million dollars.

Talking to reporters here on Friday, Posco chief representative S M Doh said that the company was in talks with major Indian private steel firms and the response was positive so far.

“Indian private companies like Essar and Uttam Galva have already evinced keen interest in buying the mill,” claimed Doh.

In view of the saturation in its domestic market, the South Korean steel maker had been looking for opportunities to bolster its overseas business, particularly in China and India.

In June this year the company had signed a deal to set up a 12 billion dollars steel project, including a 3-million-tonne steel plant, in Orissa.