South Korean steel major Posco has proposed a number of modifications in the Memorandum of Understanding (MoU) made with Odisha Government for its proposed 52,000 crore rupees steel plant near Paradip of Jagatsinghpur district of Odisha. Posco wants its new proposals to be cleared by the Odisha Government before renewing the MoU that expired on 21st of June of 2010. Odisha's Industries, Steel and Mines Minister, Raghunath Mohanty, told media persons at Bhubaneswar on Wednesday that the state government is considering the proposal given by Posco for its project. He also said that Posco has agreed not to export iron ores.