Ahead of Mr SM Krishna external affairs minister visit to Seoul the government said it has given all requisite clearances to the USD 12 billion POSCO steel project and left it to the Orissa government to take it forward.

Mr Gautam Bambawale joint secretary in charge of East Asia in the external affairs ministry told reporters that "The central government has given all clearances. It's now for the state government to move the project forward.” He added that "We hope it will get off the ground soon.”

The project will figure in the discussions when Krishna meets his South Korean counterpart Yu Myung-hwan for wide-ranging discussions in Seoul Friday.

Mr Krishna begins his three day visit to South Korea Thursday. He will also call on President Lee Myung bak. During his state visit to India in January this year, the South Korean president had expressed hope that the project will become an exemplary model of industrial cooperation that combines Korea’s know how in the steel industry and capital with India’s resources and market.

(Sourced from IANS)