Indian government keen to remove hurdles for Posco: Steel minister

The Indian government is leaving no stone unturned to see that South Korean steel major Posco's Rs54,000-crore project in Orissa is started after all the regulatory clearances, in the next four-five months

Steel minister Virbhadra Singh said on Monday that the Indian government is leaving no stone unturned to see that South Korean steel major Posco's Rs54,000-crore project in Orissa is kicked off after all the regulatory clearances in the four-five months, reports PTI.

"Efforts are to see that the entire matter is seen, signed and delivered in the next four-five months. This includes physical transfer of land and all regulatory clearances to Posco," Mr Singh told reporters after an eight-member Posco delegation headed by the company's chairman and global head Joon-Yang Chung called on him.

The meeting assumes significance in the wake of South Korean president Lee Myung-bak taking up the matter with prime minister Manmohan Singh later in the evening on Monday.

The minister added that once the matters are addressed, the company will start production in two years.

"It was a very fruitful meeting," Mr Joon-Yang Chung said after the meeting. Mr Singh said that mines have already been allotted to Posco but some claimants, including a state-run unit, have moved the Orissa High Court against this.

Mr Singh said that the Indian government would request the High Court to clear the case expeditiously, adding that the litigant state-run unit would also be persuaded to withdraw the case.

He said that the steel giant is also in talks with the Maharashtra and Karnataka governments for other steel projects.
 

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    COMMENTS

    Shadi Katyal

    1 decade ago

    Here is a good example of investment in India. How long this project has been hanging in the air. What is the surety that this will not end up like NANO.
    India wants investments and industry but at what cost. why should TATA or POSCO suffer and wait for so long if GOI cannot even deliver the land.
    What is the surety thtat there will be peace.
    What assurance GOI give to this or TATA new project fopr steel mills.

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