India's environment ministry has given conditional approval to South Korean company Posco's plan to build a steel plant in the eastern state of Orissa. The ministry has also cleared the plant's captive port and Power Plant if certain conditions are met. The $12bn plant is India's largest foreign investment project. Last year, a government panel said that environmental clearances for the plant be scrapped. Critics say the project will exhaust iron deposits in...

Clearing a protracted uncertainty over India’s largest-ever foreign direct investment, the Union Environment Ministry today gave its approval to South Korean steel major POSCO’s proposed iron and steel plant in Orissa. In an order today, the Ministry gave environmental clearance for the construction of a 12-million tonne per annum capacity iron and steel plant (4 million tonnes in first phase) and a captive Power Plant at Jagatsinghpur district of Orissa. It also...

A large number of villagers who have been opposing land acquisition for the proposed 12 million tonne capacity steel plant project of Posco-India Private Limited in Orissa are now in no mood to give up their struggle already in its sixth year. A day after Union Environment and Forests Minister Jairam Ramesh granted conditional clearance to the company's steel-cum captive Power Plant and a captive minor port, hundreds of men and...

The Orissa government has to give an assurance that not a single person is entitled to benefits under the Forest Rights Act, according to one of the conditions set by the Union environment ministry while giving provisional clearance to the Posco project today. The condition has been imposed following allegations that claims under the Forest Rights Act had not been settled. The act deals with dependants on forests for livelihood. The project,...

More than a thousand villagers from Chhattisgarh's coal-rich Raigarh district have expressed their opposition to a mine proposed by Vedanta Resources, a giant multinational. Vedanta, if granted clearance, hopes to mine four million tonnes of coal a year to fuel the expansion of its 810-MW captive Power Plant on the Bharat Aluminum Company (BALCO) premises in Korba, Chhattisgarh. Vedanta acquired a 51 per cent stake in BALCO in 2001, and the...