Odisha's Naveen Patnaik-led government has no objection to the allocation of the Khandadhar iron ore mines to South Korea's steel producer Posco, a senior official of the state government said.
The Khandadhar iron ore mines in Sundargarh to Posco-India in 2009 for its proposed 8-million-tonne steel plant in Jagatsinghpur district of the state. But, the state's High Court later annulled the allocation, forcing the Odisha government to approach the Supreme Court.
South Korean steel giant Posco can start its $12 billion Odisha project as the road for the acquisition of nearly 3,000 hectares of land required for the first phase of the project is clear, Commerce & Industry Minister Anand Sharma said.
Speaking on the sidelines of CII's Asian Business summit on Wednesday, Mr. Sharma said, "For phase-1, now road is clear... To the best of my understanding, close to 3,000 hectares, if not more, of land parcel required for stage-1 is cleared."
South Korea-based steel giant Posco on Tuesday confirmed that it has ditched plans to build a $5.3 billion (£3.5bn) steel plant in India’s southwest state of Karnataka.
Posco announced in a statement that it decided to ditch the project due to delays in securing required mining rights, land and infrastructure and opposition by local people.
Confirming the decision, the company said, “We have agreed to drop the project given a delay in (acquiring mining rights) and opposition by local people."
Bangalore, July 16 : Due to prolonged delay in land acquisition, South Korean steel major Posco has decided to pull out of Karnataka where it was planning to set up its $5.3-billion (Rs. 31,800-crore) steel plant, a top company official said Tuesday.
"We have decided to scrap the six-million tonne steel project in Karnataka due to long delay in acquiring the required land in the state," Posco India chairman and managing director Yong Won Yoon said in a statement here.
Political instability and ongoing opposition from residents have reportedly forced South Korea's Posco to reconsider its decision to build a $5.3 billion steel plant in Karnataka.
Citing an anonymous source, Reuters said in a report that Posco - the world's fifth-largest steel producer by output - is reviewing the plan and a decision on whether or not to drop the plan could be announced later this week.
Bhubaneswar, July 4 : Korean steel major Posco's plan to build a $12 billion steel project in Odisha got a boost with the state authorities Thursday declaring that land acquisition for it was complete and 2,700 acres of land had been acquired for the 12 million tonnes per annum greenfield steel project touted as India's single-largest foreign direct investment.
The administration has demolished all the betel vines over 2,700 acres in Jagatsinghpur district, where the project will come up, District Collector Satya Kumar Mullick told IANS.
The National Green Tribunal (NGT) has said in a new order on Tuesday that status quo must be maintained at the proposed Posco steel plant site in Jagatsinghpur district. The order will halt any further felling of trees by the state government for clearing the site for the proposed plant.
In a Friday verdict, the Supreme Court invalidated an Orissa High Court order which had annulled the State government's January 2009 recommendations in favour of granting an iron ore mining licence to South Korean steelmaker Posco.
The decision by the Supreme Court may pave the way for Posco to get the necessary go-ahead for a much-awaited preferential access to iron ore for the $12 billion project which the company has planned in Orissa.
World's fourth-largest steel producer, POSCO of South Korea has said that it welcomes the latest order by the Supreme Court of India, in which it said that the government will decide on giving preferential access to iron ore to the company.
The authorities in the state of in Odisha are acquiring land for the Posco steel plant in Jagatsinghpur district even as protestors gather to prepare for protest against the project.
Hundreds of angry villagers including large number of women gathered to protest against the land acquisition work in the Jagatsinghpur district, where the authorities have been deploying security arrangements to speed up the process of land acquisition work for the Posco Project.
The Odisha government on Friday termed some women's semi-nude protest during anti-Posco agitation as `unfortunate,' and alleged that certain vested interest groups had pressed innocent women to strip.
Health & Family Welfare Minister Damodar Rout, who also holds small & medium enterprises portfolio, said in the Assembly that some rival political parties as well as NGOs were backing up the protests without knowing the ground realities.
Hundreds of angry villagers including large number of women staged a new protect against the presence of police at Gobindapur village in Jagatsinghpur district, which has been deployed to speed up the process of land acquisition work for the Posco Project.
South Korea's Posco on Friday moved a step forward in the direction of setting up its ambitious $12 billion steel plant in Odisha after the administration took over the required land from farmers.
As farmers of Gobindpur village in Odisha's Jagatsinghpur district continued their protests against the planned steel plant, Posco India expressed hopes that it would be able to get the required land soon.
Bhubaneswar/ Jagatsinghpur/New Delhi, Feb 4 : Irate protesters from the Left Front agitated against the Odisha Government on Monday against its drive to remove local tribals from the site of the proposed POSCO steel plant project.
Odisha Police forcibly evicted the tribals demonstrating against the proposed steel plant near Jagatsinghpur on Sunday.
In response, supporters of the left parties organised a protest rally in Bhubaneswar city today.
India's union Commerce Minister Anand Sharma has said today that the government will review the plans by South Korean steel major Posco to invest Rs. 52,000 crore in plants in the state of Odisha.
Sharma said that the government is committed to ensure that the project takes off smoothly. He also told the visiting South Korean Minister of Knowledge Economy Sukwoo Hong that Prime Minister Manmohan Singh is monitoring the project.
South Korean electronics giant, Posco has launched a bid to acquire steelmaker and iron ore miner Arrium Limited in association with commodities trader Noble Group.
The two companies have launched a bid at 75 cents per share with a combined value of around $1 billion. The value is about 39 per cent premium above closing price on Friday when the shares closed at 54 cents. The board of the Arrium has said that it will not accept the value because it undervalues the shares of the company.
An expert panel constituted by the Union ministry of environment & forests (MoEF) on Tuesday toured various villages in Jagatsinghpur district near Paradip of Odisha, and discussed with local people about Posco's proposed steel plant in the state.
The National Green Tribunal has said that it will not give clearance to the Rs 50,000-crore Posco steel plant in Odisha in its current form and said that the project s to remain suspended until the union Environment Ministry revives it.
The Tribunal said that the memorandum of understanding signed between the state government of Odisha and Posco Steel of South Korea was for 12 million tonnes of steel per annum (mtpa), however the Environment Impact Assessment (EIA) was done for only for 4 mtpa, a third of the total proposed capacity.
Posco-India, the Indian unit of the global steel giant, has announced its decision to jointly set up joint committee with Paradip Port Trust (PPT) authorities to determine if it can use the existing facilities at Paradip.
The joint committee comprising six members will carry out the study between April 2 and 14. Representatives of Posco-India held a meeting with PPT officials including Chairman G Jagannath Rao to discuss the project.
The government wants the state-owned Steel Authority of India Ltd (SAIL) to partner South Korean steel giant, Posco in its proposed $12-billion steel plant in the Indian state of Orissa.
Mr Beni Prasad Verma, the Steel Minister informed Posco officials here on Wednesday that it wants SAIL to become a part of the project, which has faced severe hurdles and delays. Y. W. Yoon, Chairman and MD, Posco India Pvt Ltd has said that he will convey the government's intention to the board of Posco.