POSCO project to begin in April, says CEO

New Delhi, Oct 19 (UNI) Mr K T Lee, Chief Executive Officer of POSCO India, today indicated that the construction of the controversial steel plant project will begin in April, next year.

He gave this indication at a meeting with Orissa Chief Minister Naveen Patnaik here.

The 12 million-tonne-capacity steel plant will be India's single largest foreign investment project, but has been delayed following protests by villagers who do not want to be forced from their land.

He said the company proposed to start construction from April 1, as it is the 40th anniversary of POSCO as well as Orissa Day.

Setting at rest speculations that the Kujang office of POSCO was being closed, after four officials of the company were abducted by the villagers and later released, Mr Lee said it will continue to function.

Mr Patnaik also gave an assurance that issues like land acquisition and mining lease would be sorted soon and urged the POSCO chief to commence construction of 'transit accomodation' and training centre for the project displaced persons.

UNI