August 29, 2008

POSCO plans to start construction by October 2007

PTI reported that POSCO has decided to begin construction work on the 12 million tonne plant in Orissa by October 2007. The report cited Mr Soung Sik Cho CMD of POSCO India as saying that "We will begin construction work of our 12 million tonnes project in Orissa's Jagatsinghpur district by October 2007 on whatever land we have acquired so far."

As per report, POSCO has decided to begin construction work initially on 400 acres of non-forest land and then on the revenue land yet to be given to it by the Orissa government.

He said that "We believe things have undergone a sea change during the last few months. People are clearly convinced that they will benefit from the project. Now they have a better understanding of the entire situation. Actually things are now looking much brighter. We have also received the official nod for our captive port project at Jatadhari, which has also encouraged us. He added that now the only issue remains to be resolved is granting captive iron ore mines to us. But here also I believe things are moving in the right direction."