Business Standard
Thursday, May 31, 2012
drived banner
drived banner
  Advanced Search
RSS
Content Guide
Follow us on  
||Companies & Industry||||||| 
 Section Home | News Now | Today's Paper | Q&A | People in the News | Industry News | Features | The Compass | Research & Analysis | Opinion | Corporate Results
Home > Companies & Industry Live Markets | Commodities
 

Posco plant to come up at its proposed site only: Patnaik
Press Trust of India / Bhubaneswar Aug 20, 2009, 18:15 IST

Seeking to dispel confusion over the shifting of Posco plant in Orissa, the state government today asserted that the Rs 51,000-crore project of the South Korean steel giant would come up at its proposed site only, near Paradip. 

The assertion came days after Union Mines Minister B K Handique had said Posco was facing problem in land acquisition and had decided to move to a different place.  

Terming as an "error" the speculations about shifting of the project, Orissa Chief Minister said the plant would come up its proposed site only.  

"I think it is an error . Posco, as far as I know, is going to be on the site where it is at the moment near Paradip," Patnaik told reporters after returning from Delhi.  

After Handique's statement, Posco-India's Vice-President Vikas Sharan had also clarified that the company was committed to the project and there was no plan to shift the proposed 12 MTPA steel plant elsewhere.  

The chief minister had maintained that there was no move by Posco-India to either pull out from Orissa or move out of the proposed project site near the port town of Paradip.  

State Mining minister Raghunath Mohanty said the state government verified the facts from the company's CMD Choon K Kwon after Handique's statement and there was no plan to relocate the proposed project.  

Orissa signed an MoU with Posco in June 2005 for the setting up of the plant. However, there has been little progress in view of resistance from villagers.

New Ipad Application :Business Standard's all new IPad App
Click here to download for free
Arrow Other Stories     
- Markets end lower ahead of May F&O expiry
- Parsvnath posts Rs 23 cr loss in Q4
- Educomp net down 57% at Rs 61 cr in Jan-Mar qtr
- DLF Q4 net plunges 39% to Rs 211 cr
- Provogue Q4 net profit down 71% at Rs 1.81 cr
  Read Business news in 
- India's no. 1 Property Site. Click here to know more
- 
- "Discover The Power of One"
- Help a Child Achieve her. Click to know more
- The Best Seller is Also the No. 1 in Mileage. Click here
- Watch The Film Here. Click here to know more..
- Learn How One City is Running on FOOD SCRAPS.
- 1 billion in saving for Unilever without any tangles.
- A Brand New Server at a Price That Fits Your Budget. Click here
- One Partnership Endless Possibilities. Click here to know more
- Helping doctors detect diseases earlier, saving costs & extending lives.
- Which is the best plan for your daughter
- Check out the TRUE COLOURS of your Stocks, Now for FREE!
- One of the leading business schools in the world.Know More
- 2 Lac Apartments, 1 Lac House / Plots. Click here
Sorry, comments to this story are closed
Latest Messages
Table for Two
  Now available at Special price
  Rs.280/- Only

  Buy Now
BS POLL
UPA 2 has completed three years. How do you rate its performance?  Read the story
  Good
  Average
  Bad
Submit
Most Popular
Read
E-Mailed
Commented
   
- Vodafone notice on arbitration premature: Govt
- Coal blocks for infrastructure projects get GoM nod
- Tata Motors skids as margins dip at JLR
- Wealthy clients turned tables on UBS and staff?
- Army chief slams BEML on Tatra, awards it Rs 1,500-cr deal
 
 More  
Tax Shastra
  Now available at Special price
  Rs. 360/- Only

  Buy Now
 
  Member Area Write to the Editor RSS Archives Advanced Search
  Subscribe to BS print product BS e-paper Newsletter Portfolio Tracker
  BS Products BS Hindi BS Motoring BS Books
Home | Markets & Investing | Companies & Industry | Banking & Finance | Economy & Policy | Opinion
Life & Leisure | Management & Marketing | Tech World | General News
About Us | Partner With Us | Code of Conduct | Careers | Advertise with us| Terms & Conditions | Disclaimer | Contact Us