Posco to start work likely from next July

Bhubaneswar: The Odisha government would resume acquisition of land for the proposed Posco-India steel project in Jagatsinghpur district from the next month and the programme for acquisition of 2,700 acres would end likely in next June which would enable the South Korean steel major to start the project work from July.

According to information from the Prime Minister`s Office(PMO), the Posco issue figured prominently during the bilateral talks with South Korean President Lee Myung Bak in Seoul. The Prime Minister Manmohan Singh was in the South Korean capital to attend the summit on Nuclear Security. The Prime Minister reportedly assured the South Korean President about the early implementation of the mega-steel project dubbed as the single largest Foreign Direct Investment(FDI) in the country.

The PMO had reviewed the progress of proposed Posco-India steel project before Manmohan Singh`s South Korea visit. In the joint communique released after the talks between the two leaders, both Lee and Manmohan Singh, have laid stress on the execution of the 12 mtpa capacity steel plant by Posco-India.