Posco gets SC clearance for Orissa project
Published on: August 09, 2008 at 13:10
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NEW DELHI : South Korean steel giant Posco’s plans to set up Rs 51,000 crore mega steel plant and captive minor port in Paradeep, Orissa got a boost Friday as the Supreme Court cleared the project.
A special environmental bench headed by Chief Justice KG Balakrishnan allowed Posco India Pvt Ltd, a subsidiary of Korea-based Posco, to go ahead with the project, for which an agreement was signed with Orissa government on June 22, 2005.
Posco has so far been able to get about a quarter of the required 4,000 acres of land. The court has allowed Posco use of another 3,000 acres of forest land.
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