Home ECONOMY Odisha govt optimistic about Posco project: Minister

Odisha govt optimistic about Posco project: Minister

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Odisha Sun Times Bureau
Bhubaneswar, Nov 28:

Steel and Mines minister Prafulla Kumar Mallick today informed the State Assembly that the Odisha government is optimistic about the setting up of the proposed Rs 52,000 crore mega steel project by the South Korean steel major Posco near Paradip in Jagatsinghpur district.

Prafulla Mallick, Minister, Steel & Mines & Labour
Prafulla Mallick, Minister, Steel & Mines & Labour

“We are optimistic about the implementation of the project, which has been delayed by about a decade,” Mallick said in reply to a written question.

The minister said the state government has so far provided 2,752 acres of land to the state-owned Industrial Infrastructure Development Corporation Limited (IDCO) for setting up of the 8 MTPA steel plant in the first phase of which the latter has handed over 1,880 acres to Posco.

He, however, said that though the company had signed a MoU with the state government for setting up of a 12 MTPA capacity steel plant over 4,000 acre of land, it later decided to scale down the capacity of its plant to 8 MTPA and land requirement to 2,800 acres.

The minister also informed the House that while the state government had already renewed water agreement for the Posco plant in 2010 for supply of 3.5 cusecs of water, the company has signed bilateral agreement with the Odisha Power Transmission Corporation Limited (OPTCL) to avail 24 MW of electricity during the construction phase.

Posco has also availed no-objection certificates (NOC) from the Ministry of Environment and Forest and the Odisha State Pollution Control Board (OSPCB) for the first phase of the project, he added.

“Apart from this, the state government has made separate recommendations over notified and non-notified areas of iron ore reserve for prospecting licence (PL), which are under the consideration of the Centre,” the minister said.