POSCO seeks early RR guidelines from Orissa

Bhubaneswar,Mar 08 (UNI) The South Korea Steel major POSCO has urged the Orissa government to formulate the new Resettlement and Rehabilitation (RR) policy at the earliest so that the Company would take further initiative to go ahead with its 12 million tonnes mega steel plant at Paradip.

'' We are waiting for the RR guidelines from the Orissa government so that we could share our benefits for a best rehabilitation arrangement for the displaced people,'' Head of POSCO India Project Tae-Hyun-Jeong said during an interaction session with the newsmen here yesterday.

A POSCO delegation led by Managing Director Cho Soung Sik also met Chief Minister Naveen Patnaik today to discuss the various issues relating to the project, considered to be the biggest FDI in the country with an investment of nearly 12 billion US dollar.

In the backdrop of the Kalinga Nagar violence and the largescale discontentment over the displacement issue, the POSCO had suggested to the state government to minimise the number of displacement by reducing the proposed area for the project.

The POSCO which had earlier sought for nearly 5000 acres of land to set up the 12 million tonnes Steel plant, Captive power plant, New Port and colony, was now willing to have the area reduced to 4000 acres.

It had, however, asked the state government to earmark another 2000 acres near the plant site as nearly 50 to 60 Korean companies had evinced keen interest to set up the ancillary units which would ultimately help the economy of the country to grow, Mr Jeong said.

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