PTI reported that the Odisha government will soon transfer about 2,000 acres of land to South Korean steel major POSCO to begin work on its project near Paradip in Odisha, stuck for seven years now.

Odisha mines minister Mr Raghunath Mohanty told PTI that "We have acquired 2,000 acres of land for POSCO. We have begun the process of land transfer which will be completed as soon as possible.”

He said that "Of the total 2,000 acres acquired by Industrial Infrastructure Development Corporation, 500 acres have already been transferred to the steel major and the remaining will be done at the earliest.”

Mr Mohanty said that the steel company now needs 2,700 acres of land to commence work on initial 8 million tonne plant and the state government would take all possible measures to acquire and transfer remaining 700 acres of land as well.

Mr Mohanty further said the MoU with POSCO would also be renewed soon and a tripartite agreement will be signed.

Source -PTI

(www.steelguru.com)