ET reported that the stars are finally beginning to shine for global steel major POSCO. While the Orissa government has decided to renew its lapsed agreement with the South Korean firm in Karnataka, where POSCO is exploring options to build a second steel plant, land has been identified by the government.
With land acquisition for POSCO's much delayed 12 million tonnes steel project near Paradip in Orissa gathering pace, the Mr Naveen Patnaik government has decided to rework the agreement, signed in 2005, by amending vital clauses to pacify local population opposing the project.
According to a senior official of the Karnataka Industrial Areas Development Board, POSCO, which is bringing in India's largest foreign direct investment so far through the INR 55,000 crore Orissa steel project, will likely be given 3,382 acres in Halligudi village, in Gadag district of Karnataka.
The official said that "There is immediate resistance from farmers but when you give them an acceptable price they are okay. In this case, the land identified is dry land with jowar crops."
However, the government will also have to face objections, measure and verify land titles along with the revenue department, before land can be transferred.
The official said that POSCO has deposited INR 60 crore for the land in Karnataka, adding the project can avail gas from the proposed Dabhol-Bangalore pipeline that will pass through the region for the proposed plant's 400 MW power plant. Water can be drawn from the Upper Krishna region.
In Orissa, the renewal of the previous MoU had become mandatory as questions were raised on legality of land acquisition by the state government, without having a valid agreement. A public interest litigation is also pending before the Orissa High Court challenging the acquisition process.
The meeting between the state government and POSCO India will also include issues such as iron ore swapping, reservation of jobs for locals, water supply and corporate social responsibility spending. The project has also been facing opposition on water supplies from the Naraj dam over Mahanadi near Cuttack.
State water resources department principal secretary Mr Suresh Chandra Mohapatra told ET the government was exploring option of providing water from Hansua River.(sourced from ET)
With land acquisition for POSCO's much delayed 12 million tonnes steel project near Paradip in Orissa gathering pace, the Mr Naveen Patnaik government has decided to rework the agreement, signed in 2005, by amending vital clauses to pacify local population opposing the project.
According to a senior official of the Karnataka Industrial Areas Development Board, POSCO, which is bringing in India's largest foreign direct investment so far through the INR 55,000 crore Orissa steel project, will likely be given 3,382 acres in Halligudi village, in Gadag district of Karnataka.
The official said that "There is immediate resistance from farmers but when you give them an acceptable price they are okay. In this case, the land identified is dry land with jowar crops."
However, the government will also have to face objections, measure and verify land titles along with the revenue department, before land can be transferred.
The official said that POSCO has deposited INR 60 crore for the land in Karnataka, adding the project can avail gas from the proposed Dabhol-Bangalore pipeline that will pass through the region for the proposed plant's 400 MW power plant. Water can be drawn from the Upper Krishna region.
In Orissa, the renewal of the previous MoU had become mandatory as questions were raised on legality of land acquisition by the state government, without having a valid agreement. A public interest litigation is also pending before the Orissa High Court challenging the acquisition process.
The meeting between the state government and POSCO India will also include issues such as iron ore swapping, reservation of jobs for locals, water supply and corporate social responsibility spending. The project has also been facing opposition on water supplies from the Naraj dam over Mahanadi near Cuttack.
State water resources department principal secretary Mr Suresh Chandra Mohapatra told ET the government was exploring option of providing water from Hansua River.(sourced from ET)
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