Posco-India commits part of its earning for CSR

Bhubaneswar, Jan 31 (PTI) Committing to plough back apart of its earnings for Corporate Social Responsibility(CSR), Posco-India today assured the people of Orissa to takecare of concerns of different stakeholders.

"As a responsible corporate citizen of India, we willcontinue to work for the welfare of the local community and,plough back a part of earnings for CSR after the operationscommence," said Posco-India Managing Director G W Sung.

While welcoming the decision of the Ministry ofEnvironment and Forest (MoEF), Sung said, "We welcome andaccept with humility and gratitude, the decision."

Stating that the South Korean steel major fullyappreciated the concerns of different stakeholders onsustainability of environment as well as livelihood ofaffected people, the managing director said that the companywas committed to take sustainable green initiatives andeffective measures for conserving the land and marineenvironment of the area.

"We are also committed to create sustainablelivelihood opportunities for the project affected peoplethrough implementing R&R package sincerely," he said.

Sung''s reaction on the company''s Rs 51,000 croreproject that awaited implementation since over five years inthe state, came barely some hours after the Union EnvironmentMinister Jairam Ramesh accorded conditional clearance to theproject.