Land acquisition for Posco project soon: Orissa

Monday, January 31, 2011

BHUBANESWAR - The Orissa government Monday welcomed the environment ministry’s conditional nod for South Korean steel major Posco’s $12 billion project in the state and said it would soon begin acquiring land for the same.

“Although it (the approval) came late, we welcome the decision. The Posco project is important not only for Orissa but also for the whole country as it will provide employment and boost economic activities,” state Steel and Mines Minister Raghunath Mohanty told IANS.

We will begin the land acquisition process as soon as possible, he said.

The environment ministry gave conditional clearance to Posco’s project in Orissa, the biggest foreign direct investment in the country.

Posco is an integrated steel, mining and port project and separate clearances had to be given to all three. It also comprises a captive power plant to provide electricity to the steel plant.

Thousands of villagers have been opposing the project, saying it will displace them from their homelands and ruin their betel leaf farms.

The environment ministry earlier put the entire project on hold, citing violations of environment and forest laws by the company.

Filed under: Economy

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