More sops

  • 30/07/2008

Or, how to bend over to please industry
POSCO needs 300 million tonnes of coal for 30-35 years of operation. So, on July 26, 2006, the state government recommended to the Centre that the company be allotted coal blocks in Chhendipada-I, Baitarani West, and Chhendipada-II for captive mining. The latter two have already been allotted to other companies. If, however, the company obtains the blocks it is looking for, raw material will come to it fairly cheap. POSCO is required to pay only production and transportation costs, and royalty to the tune of Rs 65 per tonne for E and F grade coal in (2006 rate).

According to the MoU, Orissa will permit drawal of water from the Mahanadi barrage at Jobra or

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