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This is an archive article published on November 1, 2009

Posco project may kick start by Jan

Posco's Rs 54,000-crore project in Orissa may get off the ground by January.

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World8217;s fourth largest steel maker Posco8217;s Rs 54,000-crore project in Orissa may get off the ground by January next year as the state government is 8220;actively working8221; to remove the hurdles coming in the way of the mega steel plant.

8220;Orissa government is actively working to remove hurdles in the path of the Posco8217;s proposed 12-Million Tonnes Per Annum project so that the company can have the groundbreaking ceremony in next 2-3 months,may be by January-end,8221; Steel Secretary Pramod Kumar Rastogi said.

South Korea8217;s President Lee Myung-bak,who is likely to visit Posco8217;s proposed plant site in Jagatsinghpur district of Orissa,may attend the ceremony. Myung-bak is scheduled to visit India as a guest for the Republic Day in January. The Centre had recently written a letter to the state government regarding Myung-bak8217;s visit to Orissa.

Posco-India CMD Choon-Kuhn Know had recently said the company is planning to start ground levelling work at the site by January 2010.

Posco entered into an agreement with the Orissa government to set up a steel plant five years ago but the project has been bogged down by land acquisition problems and regulatory hurdles

The outgoing Secretary said Posco as also ArcelorMittal should involve themselves actively in a 8220;dialogue process8221; with locals and negotiate with them.

 

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