In a major development today, Union Environment Minister M Veerappa Moily has confirmed that he has given the green signal to POSCO’s Rs 52,000 crore steel project in Jagatsinghpur district in Odisha, which ended the eight-year wait for the steel major.
In 2012, the POSCO project had run into trouble when Jairam Ramesh was the Environment Minister. The final environment approval, which was given to the steel giant in 2011, was suspended in 2012, citing some genuine concerns related to environment.