Bhubaneswar: South Korea''s President Lee Myung-bak is likely to visit Posco''s proposed plant site in Orissa where the steel major would set up 12 MTPA steel mill at an investment of Rs 51,000 crore, official sources said.
Lee, who is scheduled to visit India as a guest for the Republic Day celebrations in January, would like to come to the state to attend the proposed "Ribbon Cutting" function of Posco''s project near Paradip.
The state government recently received a letter from Centre in this regard. "Centre has inquired whether it would be possible to organise Lee''s visit to Posco''s proposed plant site," a senior official told. Orissa government has not replied yet, sources said.
Billed as the biggest FDI in India, Posco''s project moved slowly due to local resistance. The company required 4004 acres of land but it was unable to acquire an inch of land though Posco-India signed an MoU with the state government on June 22, 2006, sources said Centre has laid importance to Posco''s Orissa project which is being deemed as a major step to boost India-Korea bi-lateral relations.
During his recent visit, Posco CMD Chon-Kuhn Know said the company has been planning to start ground levelling work at the site by January 2010.
Bureau Report
First Published: Monday, October 19, 2009, 10:18