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LATEST NEWS UPDATES | Forest nod to Posco project by Subrat Das

Forest nod to Posco project by Subrat Das

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published Published on Jan 1, 2010   modified Modified on Jan 1, 2010

There is a ray of hope for the revival of the much-delayed mega steel plant project of South Korean giant Posco following the final forest clearance accorded to it by the Union government.

Posco India general manager (external relations) Simanta Mohanty told The Telegraph: “The Union environment and forest ministry has recently accorded the stage-II approval for the forest land required for our Orissa project. We are ready to start construction as soon as the land is handed over to us,” said Mohanty, adding that their construction plan was ready.

Out of the total requirement of 4004 acres, 2958 acres fall under the forest category. The company had applied to the Union environment and forest ministry to allow diversion of forestland for the proposed steel plant.

Meanwhile, patches of land for compensatory afforestation have been identified by the state forest department and Posco has deposited Rs 105 crore with the government for taking up compensatory afforestation in lieu of 2958 acres of forestland to be diverted for construction of the steel plant, said Mohanty.

Posco had signed an MoU with the state in June 2005 for setting up a 12MTPA steel plant with an investment of Rs 51, 000 crore near Paradip port. But the project failed to take off due to land issues.

“Following the clearance, I think there is now no hurdle for the Posco steel plant project as far as the land acquisition problem is concerned,” said state industries and steel & mines minister Raghunath Mohanty.

However, the delay in grant of mining lease remains another hurdle.

Though the state had earlier recommended to the Centre the leasing out of Khandadhar iron ore mines in favour of Posco, it was challenged in court by Kudremukh Iron Ore Corporation Limited.


The Telegraph, 2 January, 2010, http://telegraphindia.com/1100102/jsp/nation/story_11934241.jsp
 

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