Odisha plant unlikely by July 2017, says POSCO

Odisha Sun Times Bureau
Bhubaneswar, Apr 8: 

South Korean steel giant POSCO today told the National Green Tribunal (NGT) that it would not be able to set up its $12 billion steel plant in Odisha by July 2017.


The company also confirmed that the construction is yet to begin for the plant.

Besides, its lawyer stated that the company is yet to obtain forest and other necessary clearances for the construction to take place even though its environmental clearance is valid until July 2017.

Notably, regulatory hurdles, poor market condition and negligence on part of Odisha Government have pushed the project, billed as India’s biggest foreign direct investment, back for over a decade.

Interestingly, even though South Korean Ambassador Cho Hyun today called on Chief Minister Naveen Patnaik to discuss investments & trade opportunities in the state, POSCO issue was not taken up as confirmed by Hyun.


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