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Lapse of SEZ permission not to affect main project: Posco

Last Updated: Wednesday, December 16, 2009 - 23:53

Bhubaneswar: Seeking the Orissa
government`s help for renewal of its permission for setting up
a SEZ along with a 12 mtpa steel plant in the state, Posco
India Pvt Ltd today clarified that it would not affect the Rs
51,000 crore main project.

Posco-India, the Indian arm of the South Korean steel
major Posco, gave the clarification in view of the Centre`s
direction to apply afresh for permission to set up the SEZ.

"The fresh application for SEZ has nothing to do with
the main project of setting up a greenfield steel mill near
Paradip," the company`s General Manager S Mohanty said on the
sideline of a meeting of industries here.

The Centre`s permission for establishing a SEZ by
Posco-India had expired in October, 2009, Industries minister
Raghunath Mohanty said, adding that the company had already
made a fresh application to the state government.

Posco India had been given extension twice since
October 2006, when it received in-principle approval (without
the required land) for the 12 million-tonne project with
Special Economic Zone status.

The company signed an agreement with the state
government on June 22, 2005. It has, however, not been able to
acquire land due to stiff opposition from local people in
Jagatsinghpur district.

The company reassured the state government that it was
committed to the project despite delay in land acquisition.


First Published: Wednesday, December 16, 2009 - 23:53

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