Bhubaneswar: Posco-India, the Indian subsidiary of South Korean steel major Posco, has expressed concern over the slow progress of land acquisition for its 12 mt steel project near the port town of Paradip.
Tae-Hyun Jeong, Deputy Managing Director, Posco-India had expressed concern during a meeting with the tehsildar of Kujang – the area where the mega project is scheduled to be set up in Jagatsinghpur district in Orissa, a company statement said.
It was issued in response to a newspaper report that Posco-India had set a one-month deadline for land acquisition, failing which the company might consider shifting the site.
"Jeong only expressed concern on the slow movement of the land acquisition process from the government side even when people by and large are in favour of the project," it said.
Jeong said he was hopeful "villagers would ultimately welcome the project and the work can be started in right earnest in April 2007 after the completion of the socio economic survey."
Posco signed a much-publicised MoU with the Orissa government in 2005 to set up the Rs 52,000 crore project, which is yet to take off due to the delayed land acquisition process.
The world's third largest steel-maker had sought 4,004 acres near Paradip for its maiden foreign venture. It had recently paid Rs 2.83 crore towards land cost for 1,135 acre at the site identified by the company.
The local inhabitants have opposed the project saying it would result in loss of livelihood and their displacement because of which the company, as well as the state government, is yet to start the ground survey.
Villagers have often blocked the approach roads to the project area.
Posco-India chief managing director Cho Soung-Sik had recently said they would not force their way at any point of time but would prefer to wait so that people appreciate the venture and allow its establishment.
Comments
0 comment