Lapse of SEZ permission not to affect main project: Posco
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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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