PMO asks authorities to resolve Posco issue
The Centre asks the Mines Ministry to work with Orissa government to break the impasse on allocation of mining lease to Posco.
By PTI |
NEW DELHI: The Centre has asked the Mines Ministry to work with Orissa government to break the impasse on allocation of mining lease to South Korean steel giant Posco, whose Rs 52,000 crore plant in the state has been held up.
In a meeting held on Wednesday at the PMO to review the progress made in Posco's project, PMO officials asked both the Orissa government and the Mining Ministry to work out a formula to fasten the pace of the project.
Orissa officials informed the PMO that substantial progress has been made on land issue and demarcation and boundary should be completed within this year, informed sources said.
They said that the forest diversion proposal has also been sent to the Ministry of Environment and Forests and their nod is awaited.
Posco has pledged an investment of Rs 52,000 crore to set up a 12 million tonne integrated steel plant in Orissa. The Korean steel maker had signed an MoU with Orissa government in 2005.
The company had earlier threatened to withdraw its investment proposals if it was not given access to captive mines.
In a meeting held on Wednesday at the PMO to review the progress made in Posco's project, PMO officials asked both the Orissa government and the Mining Ministry to work out a formula to fasten the pace of the project.
Orissa officials informed the PMO that substantial progress has been made on land issue and demarcation and boundary should be completed within this year, informed sources said.
They said that the forest diversion proposal has also been sent to the Ministry of Environment and Forests and their nod is awaited.
Posco has pledged an investment of Rs 52,000 crore to set up a 12 million tonne integrated steel plant in Orissa. The Korean steel maker had signed an MoU with Orissa government in 2005.
The company had earlier threatened to withdraw its investment proposals if it was not given access to captive mines.
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