The proposed Posco project has been stalled for about a decade due to various regulatory hurdles, including delays in land acquisition and mining leases.
The project has been hanging fire ever since the firm signed a MoU with the Naveen Patnaik government in June 2005. It has been dogged by land acquisition and other problems.
After battling a delay of ten years in setting up its proposed project in Odisha, South Korean steel firm Pohang Steel Company (Posco) on Tuesday joined hands with the Uttam Galva group to set up a 3 million tonne (MT) per annum integrated steel plant in Maharashtra at an envisaged investment of nearly Rs 20,000 […]
Earlier, General Motors moved from Gujarat to Maharashtra for its $1 billion investment and Foxconn announced a $5 billion investment in the state.
The steel maker’s proposed USD 12 billion project at Jagatsinghpur district in Odisha for producing 12 million tonne per annum (MTPA) steel is viewed as the largest FDI in India
Between taking charge of mines ministry and announcing the government’s decision to auction iron ore mines, the Odisha government could have processed Posco’s mining concession proposal, but it did not happen.
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Posco asked for detailed expenditure receipt for the Rs 30.34 crore it has given towards land acquisition.
Additional Sessions Judge sentenced the accused Jaipal, a resident of Mangolpuri, to 10 years in jail.
Convinced that Posco will never make it, villagers are readying to put up betel vines on land the government had acquired two years ago.
The company said it would “close down the services of the engineering centre by the end of March, 2015.
The police have registered a case against the accused under the POCSO Act and arrested him.
Venture likely to produce 3 million tonnes of steel per annum.
The ministry officials attribute the failure of the JV on Posco’s insistence on running the operations and having over 50 per cent stake in the JV company.
Subhash Parmar, a resident of Ishanpur, was found guilty of raping a minor girl in the Panchmahals on Feb 4, 2013.