Business OpportunitiesPosco asked to file afresh for SEZ
The Centre today asked South Korean steel maker Posco’s Indian arm to apply afresh for permission to set up a 12-million-tonne-per-annum (mtpa) plant in Orissa, held up for four years over land acquisition.
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Posco India Pvt Ltd had been given extension twice since October 2006, when it received in-principle approval (without the required land) for the project. The company signed an agreement with the Orissa government in 2005. It has, however, not been able to acquire land due to fierce opposition from locals, who from time to time have abducted Posco officials.
Posco India had approached the Board of Approval (BoA) for third extension of time for implementing its Rs 54,000-crore SEZ project, as it could not get land due to protests by tribals.
“They have to a file the Form A (fresh application) and recommendations of the state government...,” an official said.
Posco India, the wholly-owned subsidiary of world’s fourth largest steel maker, has conveyed to the commerce ministry that it is “committed to the project” problems in land acquisition.
The bulk of 4,000 acres is forest land for which the company received clearance from the Green Bench of the Supreme Court last year. Keen on fast clearance of the project, the steel ministry has also written to the Orissa government to help Posco resolve the land issue.