In what appears to be a setback to the Posco's dream 12-million ton steel project, the National Green Tribunal on Tuesday issued notices to the union ministry for environment and forest (MoEF), Orissa government, Orissa State Pollution Control Board (OSPCB) and Posco India asking about the circumstances under which environmental clearance was given to the South Korean company's proposal for the largest FDI project and a captive port in Jagatsinghpur...

The Orissa government has failed to keep its commitment for renewal of the revised MoU with Posco-India Ltd for setting up 12-million ton steel plant near Paradip by July end as the South Korean company has not agreed to certain conditions in the revised MoU. Even as the tenure of the previous MoU expired on June 21, 2010, the state government had gone on acquiring land for the proposed steel...

-AFP   Asia could be as wealthy as Europe by mid-century, but only if it tackles key challenges from inequality and corruption to climate change, an Asian Development Bank study said Tuesday. On current trends, Asia will make up half the world's economic output by 2050, and another three billion people will have joined the ranks of the affluent, their incomes matching those of Europe today, said the report. But the ADB study...

-PTI   Over six lakh trees and some 1,800 betel vines will have to be sacrificed to set up Posco's Rs 52,000 crore mega steel project in Orissa's coastal Jagatsinghpur district. The trees to make way for the greenfield project include about three lakh casuarina and as many horticultural plants, official sources said. Local people have voiced strong opposition against the move to clear the trees, arguing that they will be exposed to...

-The Business Standard   Hundreds of youths in the Posco project affected villages who have been deprived of employment in the preliminary construction work of the project on Tuesday agitated at Gadkujang pressing for fulfillment of their demands. Sources said, the construction agency which has bagged the contract for some preliminary project work at the site, sought to win over the support of local unemployed youths by distributing job cards to them. The...