Many industries now eager to invest after govt change: Odisha Minister on ‘Posco’s return’

In response to the speculation over South Korean steel company Posco Group’s return to the State, Industries Minister Sampad Swain on Wednesday said that the government will welcome any multinational company be it Posco, JSW or the joint venture of Posco and JSW.

Moreover, Minister Swain informed that JSW is eager to make investments in Odisha. However, the joint venture between Posco and JSW is their internal affair and everybody will know about it whenever it is made clear.

The Minister further informed that the project work undertaken in Jagatsinghpur is JSW’s own project and many industries are eager to make investments in Odisha after the change in the government.

“Odisha has all kinds of facilities and hence many industries are eager to invest in the State after the change in the government. Our government is fully ready to welcome all the industries and provide them with all kinds of help and facilities,” said Industries Minister Sampad Swain.

Notably, Posco had signed an MOU with the State government in 2005 to set up a mega steel plant in Odisha. However, the company left Odisha in 2017 following controversy over land acquisition.

However, Posco has signed an MOU with JSW in Mumbai on October 21. Following the development, speculation is rife that Posco will return to Odisha. However, it is yet to be clear on which project the MOU has been signed between Posco and JSW.