New Delhi: In the biggest foreign investment pullout, world's largest steel maker ArcelorMittal on Wednesday scrapped its USD 12 billion (Rs 50,000 crore) steel plant in Odisha over inordinate delays

The state government has finally terminated the Memorandum of Understa-nding with Brahmani Industries Limited for setting up an integrated steel plant in Kadapa district, stronghold of the YSR family.

India on Monday gave final clearance to South Korean giant POSCO's proposed $12 billion steel plant in a deal seen as a test of the country's openness to foreign investment.