No Posco, but 3L trees axed for project
Bhubaneswar: As uncertainty prevails over South Korean steel giant Posco's proposed plant near Paradip, the state government on Tuesday informed the assembly that around three lakh trees were felled during
POSCO
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Posco: Odisha begins talks for land acquisition
The Odisha Government today began consultations with villagers to acquire an additional 700 acre required for the Posco project, with a group opposed to it saying it was illegal. Though District Collector SK Mallick was confident of convincing the villagers to give up their land, Posco Pratirodh Sangram Samiti president Abhay Sahoo termed the government's efforts to acquire land as illegal. "The effort to acquire land is illegal as a case in is pending in the court of the National Green Tribunal," Sahoo said.
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Posco agrees to buy stake in ArcelorMittal Mines Canada
Posco, Asia’s third-largest steelmaker, agreed to buy a stake in ArcelorMittal Mines Canada Inc, Chung Jae Woong, a Seoul-based spokesman at Posco said. The Korean steelmaker hasn’t decided on the amount of stake it will purchase or for how much, Chung said on Tuesday. The Maeil Business Newspaper reported earlier on Tuesday Posco will buy a 15 per cent stake in the mine for $1.1 billion. Yonhap News reported a group, including Posco and China Steel Corp, will buy the stake for $1.1 billion. China Steel will invest $540 million, while Posco will spend $270 million, the Korean-language news agency said, citing people it didn’t identify.
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New Land Bill a setback for industrial growth, say experts
The new Bill on Land Acquisition approved by the Union Cabinet will be a huge setback for industrial growth in Odisha at a time when big ticket investors like Posco and ArcelorMittal are already struggling to procure land for their projects, industry experts said. According to the new Bill ratified by the Cabinet, industrial projects would need consent of at least 80 per cent of the land losers. "The new Bill will be a huge setback for industrial growth in Odisha. There is already a big noise on land acquisition for projects proposed by Posco and ArcelorMittal. Should the Bill be passed, land acquisition will become all the more difficult for such projects and the projects will be pushed into further delay”, said Ramesh Mahapatra, president, Utkal Chamber of Commerce & Industry (UCCI).
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SC to hear petition on Niyamgiri mining today
After Vedanta closed its aluminum refinery at Lanjigarh in Kalahandi district of Odisha today, citing paucity of bauxite, the primary raw material to refine aluminium, all eyes are now on the Supreme Court,
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In Orissa, Anna speaks against Posco project
Anti-corruption crusader Anna Hazare on Friday strongly opposed South Korean steel major Posco’s proposed `52,000-crore integrated steel project at Paradip in Orissa on the ground that it was a “foreign”
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Orissa proposes new policy for MoUs with industrial houses
Bhubaneswar: The Orissa government has proposed to lay down a well-defined policy for renewal of MoUs signed with industrial houses. The policy is likely to expedite the renewal of MoUs signed for the
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Posco-India’s SEZ status in trouble, Orissa non-committal on timeline for land handover
Bhubaneswar The Special Economic Zone (SEZ) status of Posco-India’s steel project in Orissa is in trouble. The SEZ development commissioner is unlikely to recommend further extension of in-principle approval
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Odisha mulls canalisation of iron ore trade
The state is the highest producer of high-quality sized iron ore and fines, with annual output surpassing 75 mn tonnes Odisha, the largest producer of iron ore in the country, is mulling canalisation of iron ore trade by appointing a designated agency in order to bring in transparency and generate more revenue. The single-point trading process is likely to push iron ore rates and impact margins of steel makers across the country who depend on the state for the raw material supply, as many other major producers, such as Karnataka and Goa, have restricted output.
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ArcelorMittal gets land in K'taka, miles to go for steel plant
The company has got the entire 2,700 acres of land near Bellary, Karnataka ArcelorMittal has finally crossed the biggest hurdle in setting up any project in India -- land. The company has got the entire 2,700 acres of land near Bellary, Karnataka, required for its steel plant from the state government. Bellary is the the rich iron ore district of Karnataka where most of the steel plants, including 10 million tonne plant of JSW Steel is located. The land has been acquired by the Karnataka government through Karnataka Industrial Area Development Board (KIADB) and the company has deposited Rs 260 crore with the government for the same.
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Posco seeks more time for Odisha steel SEZ
Bhubaneswar/New Delhi: Posco India has sought more time from the Centre for implementing Rs 54,000 crore SEZ project near Paradip in Jagatsinghpur district, as the South Korean steel giant could not get