Government to review Posco's Odisha project, says Sharma

Government to review Posco's Odisha project, says SharmaIndia'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.

"We have been concerned about delays and will be conducting a review. Prime himself has been monitoring this project," Sharma was quoted as saying in an official statement.

Hong has raised questions with his counterpart about the delays in clearances for the project and also pointed out that it is the single largest investment proposal in India. The company is planning to build a 12 million tonnes per annum steel project but the project was stalled in 2005 mainly due to opposition from local people against land acquisition and difficulties in obtaining clearances.

He said that the government will look to find out solutions to the issues in association with state government and concerned agencies to make sure that the project takes offsoon.