According to media sources, Forest Advisory Committee in its report submitted to the Jairam Ramesh has recommended against to the POSCO project.
Earlier, on Nov 2, Orissa Chief Minister, Naveen Patnaik claimed that the South Korean steel major POSCO project in Sundergarh district, was essential for development of the country and also for Orissa.
Even POSCO, claimed that its project in Orissa would bring unemployment down from 0.99 million to a mere 0.12 million.
In Jun 2005, South Korean steel giant POSCO has signed a pact with Orissa government to build one of India"s biggest steel plants in Orissa with the investment of $12 billion- the largest FDI (Foreign Direct Investment) project in India.
But the project has been delayed due to various reasons, including protests by residents against land acquisition, environmental issues, violating of the Forest Rights Act.