IPICOL starts verification of steel projects

Bhubaneswar: The state-owned public sector undertaking Industrial Promotion and Investment Corporation of Orissa Ltd (IPICOL) started verification of the physical and financial progress of the steel and power projects which have applied for extension of the validity of their MoUs. 
 
Three teams constituted by IPICOL, which has been entrusted to assess the progress, made field visits of as many as eight plants in three districts on Thursday. 
 
According to officials, the teams comprising members from State Pollution Control Board (SPCB), Water Resources department, IPICOL, collector of the respective district, IDCO and an expert of Steel and Mines department would visit nine industrial districts to assess the physical progress of the steel projects. 
 
The teams will verify land acquisition, employment generation and investment by about 30 steel and 7 power projects seeking extension of MoUs and submit report to the government. 
 
“They (teams) will also look into efforts of the companies to expedite the physical progress of the projects,” IPICOL chairman G. Mathi Vathanan said. 
 
Sources said while about 45 steel projects including Posco, Jindal, Arcelor-Mittal, Bhusan, Tata, and Essar have applied for renewal of MoUs, Posco and Arcelor Mittal have not been included in the recent verification process.