MOU renewal with POSCO soon

Bhubaneswar: The state government would soon renew its memorandum of understanding with the Korean steel major Posco-India which had lapsed about a year ago. The state law and mining and steel departments were studying the MMDR Act and the export clauses and would soon submit reports to facilitate the signing of the MOU. Disclosing this, […]

Odishatv Bureau
  • Published: Saturday, 29 October 2011
  • Last updated: 29 October 2011, 08:32 PM IST

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Bhubaneswar: The state government would soon renew its memorandum of understanding with the Korean steel major Posco-India which had lapsed about a year ago. The state law and mining and steel departments were studying the MMDR Act and the export clauses and would soon submit reports to facilitate the signing of the MOU.

Disclosing this, the state chief secretary, Bijoy Pattanaik today said that the 2,000 acres of land cleared by the state government for the mega-project near Paradip would be handed over to the Korean company at the time of rebewal of the MOU. The company can start its work on the 2,00 acres of land, Pattanaik added.

Meanwhile, the CMD of IDCO said that the leveling of the ground for the approach road and the resettlement colony of the displaced families would be completed soon after which the company can start its work.

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