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Land acquisition delays steel project

Staff Reporter

Officials' meet takes stock of situation

BHUBANESWAR: With South Korean steel major POSCO's proposed mega 12 million tonne green field steel project getting delayed due to slow land acquisition process, State government's top officials on Monday assembled in a review meeting to take stock of the situation.

After the review meeting, POSCO-India Chairman and Managing Director Soung-sik Cho admitted that `obstructions' in acquiring land was slowing down the progress.

The POSCO delegation was advised to launch a programme to convince people on the benefits of the project. Sources, however, said the delegation expressed displeasure over the delay.

The review meeting was chaired by Chief Secretary Ajit Kumar Tripathy while top officials from home and revenue division took part in the discussion. The meeting agreed to prepare action report for the project.

The steel major had signed an MoU with the Government in 2005 to set up the mill at an investment of Rs. 52,000 crores, the highest foreign direct investment so far.

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