New Delhi, Jan 16 IBNS | 11 months ago

Prime Minister Manmohan Singh on Thursday said he is happy that the POSCO steel project in Odisha is set to be operational in the coming weeks.

In his statement to the media during the state visit of President of Republic of Korea, Park Geun-hye, in New Delhi on Thursday, Singh said: "I am very happy that the large-scale POSCO steel project in Odisha is set to be operational in the coming weeks, following the revalidation of its environmental clearance."

"Grant of mining concession for the project is also at an advanced stage of processing. I conveyed to President Park our hope that this project will confirm that economic growth and environmental protection can go hand in hand," he said.

Meanwhile, anti-POSCO groups under the banner of Posco Pratirodha Sangram Samiti, protested against Park's visit and burnt effigies of Park, Singh and Union Environment & Forest Minister M Veerappa Moily.

On May 2, 2011, South Korean steel giant Pohang Steel Company (POSCO) managed to get the final go-ahead signal from India's environment ministry to set up its steel mill and captive port in Odisha.

However, protests halted work at the site chosen by the Odisha government for POSCO in the coastal village of Govindpur as locals were against setting up of the plant.

The 12- billion-dollar steel plant if built will have a capacity of four million tonnes and is touted to be the largest Foreign Direct Investment (FDI) in India so far.

(Posted on 16-01-2014)

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