Bhubaneswar: Odisha Government will renew the Memorandum of Understanding (MoU) with POSCO for setting the `52,000 crore Steel Mill near Paradeep in Jagatsinghpur district. It was announced by Steel and Mines Minster Raghu Nath Mohanty. And this time the process has been started to extend the deal period for a six years instead of five years.
He indicated that the renewal of the MoU was in advance stage of finalisation and would be put in place soon. With the Union Ministry of Environment and Forest on January 31 giving Clearance with conditions for the setting up of the controversial multicrore POSCO steel mill and the captive port, the biggest FDI in the country, the Odhisa Government had initiated steps to regularise the deal to help start the work. The conditions put-forth by the MoEF for the proposed integrated POSCO Project were also examined thoroughly and soon all the points would be Complied with soon, said that Minister of Steel and Mines.
He indicated that the compliance is likely to be made within next three days to the MoEF. Stating that the project would herald a new area of industrialisation and economic growth in Odisha and the country as well, Industry Minister said that the state government had already formulated a new recruitment policy for the ongoing and upcoming industries with the main thurst of more employment of locals.
He said that the same would be applicable to POSCO. As per the new Police, 90 per cent of the required semi-skilled and un-skilled worked would be provided employment in the POSCO.
Similarly, 60 per cent of the skilled jobs would be reserved for the locals and in Managerial posts 30 per cent of the local people would be provided jobs in the project, he said.
The MoU signed on 22nd June 2005 between the Government of Odisha and POSCO for a period of five years had already lost its validity since August 2010.
He indicated that the renewal of the MoU was in advance stage of finalisation and would be put in place soon. With the Union Ministry of Environment and Forest on January 31 giving Clearance with conditions for the setting up of the controversial multicrore POSCO steel mill and the captive port, the biggest FDI in the country, the Odhisa Government had initiated steps to regularise the deal to help start the work. The conditions put-forth by the MoEF for the proposed integrated POSCO Project were also examined thoroughly and soon all the points would be Complied with soon, said that Minister of Steel and Mines.
He indicated that the compliance is likely to be made within next three days to the MoEF. Stating that the project would herald a new area of industrialisation and economic growth in Odisha and the country as well, Industry Minister said that the state government had already formulated a new recruitment policy for the ongoing and upcoming industries with the main thurst of more employment of locals.
He said that the same would be applicable to POSCO. As per the new Police, 90 per cent of the required semi-skilled and un-skilled worked would be provided employment in the POSCO.
Similarly, 60 per cent of the skilled jobs would be reserved for the locals and in Managerial posts 30 per cent of the local people would be provided jobs in the project, he said.
The MoU signed on 22nd June 2005 between the Government of Odisha and POSCO for a period of five years had already lost its validity since August 2010.
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