Orissa to examine possible JV between Sail and Posco

BHUBANESWAR: The Orissa government on Saturday said it was not informed about the Steel Ministry's proposal for a joint venture between public sector SAIL and South Korean Posco, whose Rs 52,000-crore mega steel plant in the state is being delayed.

"We have not been informed about the proposed joint venture between SAIL and Posco. We will certainly examine it after being properly informed," Orissa Steel and Mines Minister Raghunath Mohanty told reporters here.

Mohanty was reacting to the Union Steel Ministry's proposal to Posco for jointly establishing mega steel plant in Orissa.

Earlier this week, Union Steel Minister Beni Prasad Verma had proposed to Posco India chief Yong Won Yoon that joint venture bet set between Posco and state-run SAIL to implement the South Korean company's 12 million tonnes per annum project in Orissa.

"It is up to Posco whether they will implement the project jointly. The state government will certainly examine it if such a development takes place," Chief Secretary B K Patnaik told reporters here.

Posco's Orissa project has been delayed since 2006 due to a slew of reasons including regulatory issues and land acquisition problems.

Meanwhile, the Posco Pratirodh Sangram Samiti (PPSS), the body opposing Posco's project, said it would continue to protest even if Sail became part of the project.