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 »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...
More »Bharti Wal-Mart to enroll 35,000 farmers by Rasul Bailay
Bharti Wal-Mart Pvt. Ltd, the 50:50 wholesale retailing joint venture between Wal-Mart Stores Inc. of the US and India’s Bharti Enterprises Ltd, plans to enlist about 35,000 farmers in the next 5-year to source fresh produce as it opens more stores. Currently, Bharti Wal-Mart sources fruits and vegetables from more than 600 farmers in Punjab and other states. Last week, it opened its fourth Best Price Modern Wholesale store in Kota...
More »Posco's Orissa project lands in fresh trouble
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...
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