POSCO to lay foundation of Paradip project in 2008

Bhubaneswar, Aug 10 (UNI) POSCO-India is seriously contemplating to start the ground breaking of its Rs 51,000 crore mega steel plant in Paradip in Orissa by mid 2008.

Talking to newsmen here, POSCO-India Chairman-cum-Managing Director Soung-Sik-Cho said the land preparation for the project would commence sometime in April 2007 after it acquired the 3566 acre of government land.

Mr Cho said the Orissa government had already sanctioned 1135 acres of encroached free land in the first phase and steps are being taken for possession of the land to start the work of the project, the biggest FDI in the country.

He said in the wake of resistance from the locals, the company would not go for any construction work on the private land which accounted for only 11 per cent of the total land required for the project.

Mr Cho said efforts were on to make all communication channel for an interaction with the villagers opposing project and the company would like to provide electricity to two villages and a temple in the locality soon.

He said the topography and the socio economic survey of the project area had been stopped following resistance from the local people but ruled out any change in the site saying that displacement would be there for such a big project requiring huge land.

The POSCO-India CMD said of the total government land nearly 843 acres had been identified as forest land and hoped the environment clearance for the forest land would be available by March next year.

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