South Korean Steel gian Posco gets nod to acquire forest land
By Agencies
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South Korean Steel gian Posco gets nod to acquire forest land

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Bhubaneswar (Orissa) : South Korean steel giant Posco has finally got the clearance from the environment ministry for acquiring forest land for its proposed Rs 54,000-crore steel project in Orissa, which has been already delayed more than a year.

"The Centre gave the final clearance for handing over 2,900 acres of forest land to us for our 12 million tonne steel project in Orissa.

We are hopeful that the state government would soon transfer the entire 4,004 acre of land needed for the project to us," Posco India General Manager, External Relations, Simanta Mohanty said.

Nearly 3,600 acres of land out of required 4,004 acres fall under the government category, while the rest remains under private control.

"We are ready to commence work on the much-awaited project any day now," Mohanty said, adding that the foundation stone could be laid any day.




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