The Odisha government on Saturday April 29,2017 formally announced that it has cancelled the land allotted to South Korean steel major Posco for setting up a mega steel facility near Paradip.
"The state-owned Industrial Infrastructure Development Corporation (IDCO) has informed Posco-India in a letter that the land allotted to it has been cancelled as the land was not utilised even three years after the allotment," Industries Minister Debi Prasad Mishra told reporters.
The minister said that Posco had also defaulted on land dues worth Rs 54 crore for which IDCO held back transfer of balance land to the company.
The state government had acquired 578 acres of non-forest land and 1,301 acres of forest land at Kujang and Erasama tehsil in Jagatsinghpur district for the purpose of setting up Posco project at an investment of Rs 52,000 crore.
On June 22, 2005, Posco India had signed an MoU with the Odisha government to set up a 12 mtpa steel plant at an investment of Rs 52,000 crore near Paradip. Though the tenure of the MoU ended in 2010, it was renewed again.
No comments:
Post a Comment