Commodity Online
NEW DELHI: Orissa Energy Minister Surya Narayan Patro says metal investment projects in his state would move ahead without problems, despite some difficulties that Posco faces.
Even in the case of Posco, “there is no big problem,” he told reporters today. The minster explained that some local people were opposing the project, probably because of employment, rehabilitation and land issues.
The government policy on the projects is strong and the issues with Posco project would be sorted out some soon. Such problems would not affect other investment proposals, including that of Arcelor Mittal, he said.
Since the government offer several incentives and has “very good” rehabilitation policy the issues involved could be sorted out soon. These issues will not affect the proposed projects and all of them “are expected to come on time,'' Patro said.
Major players in the steel, power and Aluminium sectors such as Tata Steel, Sterlite, Aditya Birla Group, GMR, Essar, Jindal Steel and Power are expected to invest some 4.75 lakh crore.
Posco plans a 12-million-tonne greenfield project in Orissa with an investment of Rs 52,000 crore. It is expected to provide direct employment to 13,000 people and indirect employment for another 35,000. But Posco allegedly sought to to ship 400 million tonnes of Iron Ore over a period of 30 years out of a captive iron ore mine capable of supplying 600 million tonnes of ore.
The Left Parties and the Orissa Gana Parishad allege that the government was acting against the state's interest by allowing iron ore export. Posco is also now being added to the state's SEZ list and in the midst of this, around 4,000 people face displacement.
Arcelor Mittal also proposed 10-million-tonne steel plant at an investment of Rs 40,000 crore and has surveyed the land. That plant would come up at Keonjhar. “The project is on and will not be affected by Posco,'' the minister said.
