October 16, 2008

POSCO hopes to start work on Orissa steel plant by April 2008

It is reported that after recent events at the project site followed by meetings with state officials as well as prime minister, POSCO has postponed the date of starting construction on its proposed 12 million tonne capacity Orissa steel plant by April 2008.

Mr Lee Ku taek CEO of POSCO after a meeting with Mr Naveen Patnaik chief minister of Orissa announced that "April 1st 2008 is the 40th anniversary of POSCO and by then we will have ground breaking for the plant in India."

Mr Lee clarified that there was no question of the company closing down its project office at Kujang in Jagatsinghpur district. He said the Chief Minister assured to re send the state government's recommendation to the centre for grant of prospecting license of Khandadhar iron ore mines by December.

The board of directors of POSCO met at New Delhi on Friday after which Mr Lee along with other directors met Mr Patnaik and discussed the fate of steel project. As per report, Mr Lee met Dr Manmohan Singh prime minister also.