Claims about the benefits of Posco's $12 billion integrated steel project to Orissa's economy and job market come from a study by an “independent” research organisation — but was paid for by Posco itself. In January 2007, the National Council of Applied Economic Research (NCAER) published a report on ‘Social Cost Benefit Analysis of the POSCO steel Project in Orissa,' which claimed that the project would directly and indirectly generate 8.7...

The Orissa government will reply to the queries made by the Centre on the Meena Gupta panel report on Posco project in the next three days, Chief Secretary B K Patnaik said on Wednesday. “We will reply to the Centre on the panel’s reports within three days,” Patnaik told reporters here. The state government did not comment on the reports of the committee for the past two days. Smarting under the Union...

steel giant Posco’s proposal for the largest foreign direct investment in India has failed to pass environment muster with a central panel picking flaws in the process to settle forest rights and approve the shortlisted site in Orissa. Three members of the four-person committee have recommended that the Union forest and environment ministry scrap its approvals while the remaining nominee has suggested that the exercise be carried out afresh. The panel’s recommendations...

Posco’s proposed $12 billion steel plant in India is in doubt after a government panel recommended scrapping environment clearances given to the world’s third largest steelmaker. Three of the four members of the panel suggested that approvals should be canceled because of “flaws in the studies, and shortcomings in the clearances granted” to the project in the eastern state of Orissa, Environment Minister Jairam Ramesh told reporters yesterday in New Delhi....

The showpiece proposed iron and steel project in Orissa by South Korean steel major POSCO faces a huge cloud of uncertainty with an expert panel set up by the Environment Ministry alleging violations of environmental laws. Three of its four members today recommended that all initial clearances to the project be cancelled. The lone dissenting voice was that of former Environment Secretary Meena Gupta who argued that there was no need...