30 Oct, 2011 |ET Bureau
BHUBANESWAR: Orissa government will soon renew the MoU with South Korean steel major, Posco for a 12-mtpa steel mill near Paradeep in Jagatsinghpur district.
The draft MoU is presently being fine-tuned, chief secretary Bijoy Patnaik said here adding that the 2,000 acres of land cleared by the state government for the mega-project near Paradip would be handed over to the Korean company at the time of renewal of the MOU.
The Law Department is studying certain controversial clauses in the expired MoU like ore swapping and the MMDR Act. Posco-India had already submitted its views on the controversial export clause in the previous MoU.
"Posco-India's views on the export clause are being examined by the law, steel and mines departments. The provisions of the MMDR need to be in accordance with the content of the revised MoU," he said.
Posco, in its previous MoU signed in 2005, had wanted about 4,000 acre to set up the plant at an investment of Rs 52,000 crore.
Incidentally, the state government had earlier made it clear that the Posco, can start work at the proposed plant site near Paradip before signing fresh MoU with the state, "Work for the steel project and processing of the MoU can go simultaneously," said Mr Patnaik, remarked "We will talk to Posco-India over the matter relating to beginning of the work at the proposed plant site areas under Ersama block in Jagatsinghpur district," he said.
However, the company has to agree to begin the work on the 12 mtpa mega steel plant before entering into any formal MoU, an official at the steel and mines department said.
Meanwhile, the state has overshot its mining revenue collection target in the April to September period of 2011-12. As against the targeted Rs 1,750 crore, the actual collection was Rs 2,241.29 crore. This is 51.8% higher than Rs 1,476.42 crore recorded in the corresponding period of 2010-11.
Mining revenue collection has been buoyed by higher sales realization. Under reporting of ore prices, especially iron ore has been curbed to a large extent and now our prices compare favorably with pan India average, according to the mining department officials.
(sourced Economics Times)
Showing posts with label renew MoU with POSCO. Show all posts
Showing posts with label renew MoU with POSCO. Show all posts
Sunday, October 30, 2011
Wednesday, March 9, 2011
Orissa Government to renew MoU with Posco says Minister Raghu Nath Mohanty
Wed, March 09, 2011
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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