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.

The company said in a statement, "Posco India is very keen on this integrated steel project and welcomes the recent initiative undertaken by the administration to clear the required land for the project with the consent of the village people concerned."

Yong Won Yoon, chairman and managing director of Posco India, however admitted that it would consume some days for the completion of the clearance of the land required for the project.

Meanwhile, renowned social activist Swami Agnivesh has condemned the Naveen Patnaik government for resorting to the police action against the protestors on February 3. During his address at a meeting organized by Posco Pratirodh Sangram Samiti, he stressed that the government had no right to use force to acquire land against the wishes of farmers. The described the action as undemocratic and illegal.

Since the start of 2008, Odisha has attracted investment proposals worth around $210 billion domestic as well as global heavyweights Tata, Jindal, Posco, ArcelorMittal and Vedanta Resources. All of these investors have faced protests and delays, especially from the side of farmers.