Posco's steel plant in Odisha has been cleared: Moily

Last Updated: Friday, January 10, 2014 - 12:50

Zee Media Bureau

New Delhi: The Environment ministry on Monday paved way for South Korean steel giant Posco to build a plant in the country.

Environment Minister Veerappa Moily stated that Posco's steel plant in Odisha has been cleared.

Environment ministry has given its go-ahead to Posco's planned steel plant, but has asked it to spend on "social commitments", a company spokesman said, raising the project`s cost by USD 600 million to USD 12.6 billion.

The revalidation of the South Korean firm`s lapsed environmental clearance comes days before the country`s president, Park Geun-hye, visits India for four days starting January 15.

The proposed 12 million-tonnes-per-year plant in Odisha has been stuck for more than eight years due to delays in getting various clearances and acquiring land.

PTI
First Published: Friday, January 10, 2014 - 12:50
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