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| TITLE |
Indian steel minister meets POSCO delegation |
| WRITER |
administrator |
DATE |
2010-01-27 11:01:57 |
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Indian steel minister meets POSCO delegation
26 Jan 2010
BL reported that the Indian government is keen on getting South Korean steel major POSCO’s INR 54,000 crore project in Orissa off the ground and is trying its best to ensure that all regulatory clearances are through within the next 4 to 5 months.
Mr Virbhadra Singh Indian steel minister after meeting 8 member POSCO delegation headed by company’s Chairman and Global Head Mr Joon-Yang Chung told reporters that “Efforts are being made to ensure that the entire matter is seen, signed and delivered in the next 4-5 months. This includes physical transfer of land and all regulatory clearances to POSCO.”
Mr Singh said mines had already been allotted to POSCO but some claimants, including a public sector undertaking, had moved the Orissa High Court against this. Mr Singh said the government would request the High Court to dispose of the case expeditiously, adding that the litigant PSU would also be persuaded to withdraw the case.
He said the steel giant was also in talks with Maharashtra and Karnataka governments for steel projects which would be over and above the Orissa project.
The steel minister said that once the matter was addressed, the company would start production in two years.
Mr Joon-Yang Chung after the meeting said “It was a fruitful meeting.”
Resourced from BL |
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