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LATEST NEWS UPDATES | Decision on Posco’s Orissa project next mth

Decision on Posco’s Orissa project next mth

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published Published on Sep 28, 2010   modified Modified on Sep 28, 2010


A decision on South Korean steel major Posco’s project in Orissa is likely to be taken soon after the environment ministry appointed committee submits its report on October 11.

Work on Posco’s Rs 54,0000-crore project in Jagatsinghpur was suspended following a stop-work order by the environment ministry in August.

"The panel has almost finalised its report and will submit it to the ministry on October 11. It will be then discussed by the forest appraisal committee (FAC),” environment minister Jairam Ramesh said here on Monday.

Headed by former environment secretary Meena Gupta, the committee was constituted on July 28 to investigate the status of the implementation of the Forest Rights Act, and the status of the implementation of the rehabilitation and resettlement plans. Its mandate was broadened to review Posco's compliance with environmental and coastal regulation zone clearances.

The Gupta panel’s report will include a "review compliance with statutory provisions, approvals, clearances and permissions under various statues, rules, notifications.” The project had been granted conditional clearance in December 2009. The clearance was subject to fulfiling 15 conditions, including securing the consent of the local people, who are categorised as other forest dwellers under the Forest Rights Act.

Consent under the Forest Rights Act is crucial as the project has been delayed on account of protests by the local people. Posco had indicated that it needs about 1,600 hectares for its project, of which 1,173 hectares is forested.

Besides settlement of claims under the Forest Rights Act, which is to be undertaken by the state government, the project developer will “suitably compensate” project-affected families as required by the Orissa government’s R&R policy of 2006 and the Supreme Court order of 1995.

The company is also required to give the fishing community of Nolia Sahi financial aid and access to the sea. The report by the Gupta panel will detail whether all conditions listed out by the ministry are being adhered to.
 
The decision to halt the project was taken after the N C Saxena-Devendra Pandey committee appointed by the Centre reported violations of the of Forest Rights Act at the Posco site.

The government is understood to be keen on working out a solution, in keeping with the law. Posco’s Rs 54,000 crore ($12 billion) project in Orissa is the largest foreign direct investment in the country. The Centre would like to see this project take off given the impact it could have for foreign investments in the future.

South Korea has emerged as a big investor, and the government would like to see more investments flowing in from there. The Posco investment also fits in well into the government’s Look East policy, which seeks to build on close political-strategic ties with Asian countries.

Despite the strategic interests and government’s keen interest in the project, Mr Ramesh has dismissed suggestions that the Posco project would be approved to compensate for the rejection of a Vedanta project.


The Economic Times, 28 September, 2010, http://economictimes.indiatimes.com/news/news-by-industry/indl-goods-/-svs/steel/Decision-on-Poscos-Orissa-project-next-mth/articleshow/6640314.cms


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