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...
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Orissa moves SC, challenges HC decision on POSCO mining issue by Indu Bhan
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...
More »Tribal Meena, not bureaucrat Meena to decide POSCO's fate
An illiterate tribal woman from Orissa's Jagatsinghpur district is all set to play a vital role in deciding the fate of the Rs 51,000 crore POSCO steel project, billed as the country's biggest FDI. The role of Meena Hembram and 20 others came to limelight after the Meena Gupta panel, which submitted its reports to the union Ministry of Environment and Forest (MoEF) on October 18, pointed out that there were...
More »POSCO project biggest FDI for India: Naveen
Orissa Chief Minister Naveen Patnaik today said the POSCO project, which has been a hanging fire for the last five years, has a potential of earning huge revenue for the Centre as well as the state and will create many employment opportunities for the country. Patnaik also said the implementaion of the Rs 51,000-crore project is also the responsibility of the central government. "It is also the responsibility of the Centre. The...
More »POSCO positive: PM to tell Seoul by P Vaidyanathan Iyer
Prime Minister Manmohan Singh will reassure South Korea President Lee Myung-bak that India will address all issues related to Pohang Steel Company’s (POSCO’s) proposed $12-billion steel project in Orissa in a “constructive manner.” POSCO India, which first announced the setting up of the massive plant five years ago, is facing environment roadblocks. Lee is likely to take up POSCO’s case with Singh tomorrow. The two leaders, who are here for the East...
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