Sunday, 14 Aug 2011
BS reported that even as POSCO India is yet to submit a written response on the draft prepared for renewal of MoU with the Orissa government, the company is understood to have raised certain reservations over the omission of the iron ore swapping clause in the revised pact.
While POSCO has verbally agreed not to export iron ore from Orissa, the steel maker has requested the state government to allow it to swap high alumina content iron ore found in Khandadhar mines with high grade ore of any other firm including state owned Orissa Mining Corporation within the state.
A mines department official familiar with the development said that "POSCO India is yet to submit its written reply to our draft MoU. However, the company, during discussions with the state government officials, has agreed to our other conditions including adhering to the employment clause and promoting ancillary industries around the mother plant.”
The Orissa’s state chief secretary Mr BK Patnaik maintained that POSCO India is yet to submit any written response in connection with the renewal of the MoU that lapsed on June 21 last year.
Despite commitments from top officials of the state government, the renewal of MoU with POSCO India had suffered an inordinate delay. The state government had jumped three of its stipulated deadlines in the road to renewal of the pact.
(Sourced from BS)
BS reported that even as POSCO India is yet to submit a written response on the draft prepared for renewal of MoU with the Orissa government, the company is understood to have raised certain reservations over the omission of the iron ore swapping clause in the revised pact.
While POSCO has verbally agreed not to export iron ore from Orissa, the steel maker has requested the state government to allow it to swap high alumina content iron ore found in Khandadhar mines with high grade ore of any other firm including state owned Orissa Mining Corporation within the state.
A mines department official familiar with the development said that "POSCO India is yet to submit its written reply to our draft MoU. However, the company, during discussions with the state government officials, has agreed to our other conditions including adhering to the employment clause and promoting ancillary industries around the mother plant.”
The Orissa’s state chief secretary Mr BK Patnaik maintained that POSCO India is yet to submit any written response in connection with the renewal of the MoU that lapsed on June 21 last year.
Despite commitments from top officials of the state government, the renewal of MoU with POSCO India had suffered an inordinate delay. The state government had jumped three of its stipulated deadlines in the road to renewal of the pact.
(Sourced from BS)
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