POSCO Project in Odisha to kick off in 2014

The much-awaited 12 mtpa steel plant project of POSCO in Jagatsinghpur district, will kick off next year. South Korean President Park Geun Hye will visit Odisha in January to lay foundation of the project, it is believed.

South Korea’s Ambassador to India, Joon-gyu Lee met Odisha CM Naveen Patnaik at the Secretariat in Bhubaneswar yesterday to discuss the modalities regarding the POSCO project. Both the Republic of Korea and the Odisha Government have rejected the findings of a UN Panel, which sought the halting of the project.

The POSCO project will be built at an investment of Rs 52,000 crore. The government has so far acquired 2,700 acres of land for the first phase work. The project has been on hold for the last eight years.

The Korean Envoy rejected the UN Panel’s appeal, saying “they have not come to Bhubaneswar or met people at the ground. They just met some people in Delhi, who are opposing the project. They have not even sought our version on this matter.”