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Center has no information on POSCO’s lack of interest in Odisha plant

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Odisha Sun Times Bureau
New Delhi, May 9:

The Union Government has not received any communication from POSCO pertaining to the steel behemoth being disinterested in its Odisha plant, Union Minister of State for Steel and Mines Vishnu Deo Sai today informed the Rajya Sabha while replying to an unstarred question.

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“Government has not received any communication from POSCO in this regard,” he said in the written reply.

Interestingly, the steel giant on April 8 told the National Green Tribunal (NGT) that it would not be able to set up its $12 billion steel plant in Odisha by July 2017. The company, on that day, also confirmed that the construction is yet to begin for the plant.

Besides, its lawyer had stated that the company is yet to obtain forest and other necessary clearances for the construction to take place even though its environmental clearance was valid until July 2017.

Notably, regulatory hurdles, poor market condition and negligence on part of Odisha Government have pushed the project, billed as India’s biggest foreign direct investment, back for over a decade.

Even though many rounds of talks have taken place between the company officials and the government representatives from the State and the Center, no concrete result has emerged.