Even after five-and-half years since its inception, the biggest foreign Direct Investment (FDI) for the country, the  POSCO steel project has failed to take off due to widespread opposition from several quarters. Now, the 51,000 crore project has run into more trouble as the environment clearance to the project seems unlikely. But the Orissa government has come to the fore, not just supporting the project but also moving the Supreme Court, filing...

The Orissa government on Friday moved the Supreme Court challenging the Orissa High Court order that quashed its decision to permit South Korean steel major Posco to mine iron ore in Sundergarh district of the state. The matter is likely to come up for hearing in November end. The state government had recommended the grant of prospecting licence (PL) to Posco India for the Khandadhar mines for its 12-million-tonne steel plant...

The Rs 51,000-crore Posco steel project in Orissa, that has been delayed for five years, faces the prospect of getting delayed further. The ministry of tribal affairs is now looking at the possibility of whether the South Korean steel project, which also represents the largest foreign direct investment (FDI) in India so far, has actually encroached into the land owned by tribals. The Union ministry of environment and forest (MoEF) has...

Peeved at the appointment of “activists” in the forest panel for clearing Rs 54,000 crore steel project of Posco, Steel Minsiter Virbhadra Singh advised Environment Minister Jairam Ramesh to be “pragmatic.” “The approach has to be pragmatic and not dogmatic. When there is an issue of development some sort of compromises have to be made,” Mr. Singh told PTI, when asked as to what his advice would be for Jairam Ramesh...

Vedanta, Posco and Sindhudurg. The issue is the same — the need for a well-thought-out policy relating to extractive and resource-based industry. The government’s withdrawal of Mining permission to Vedanta on the Niyamgiri hills in Orissa’s backward Kalahandi district; the divided verdict by the Gupta Committee on the Posco iron ore project; and the environment ministry’s concern on 49 Mining licences issued by the Maharashtra government for bauxite and iron...