Odisha govt hopeful of next round of talks on Posco issue

The Odisha government is hopeful of another round of high-level talks on the Posco issue, which is likely to be attended by Prime Minister Narendra Modi or Union Finance Minister Arun Jaitley.
"Another meeting will be held to discuss the future of Posco project. This meeting will be chaired either by the Prime Minister or the Union Finance Minister. Odisha Chief Minister is likely to attend the meeting," Odisha Steel and Mines minister Prafulla Mallick told reporters here today.
The next round of meeting was likely to be held early next month where Odisha might offer Posco a joint venture option with the Odisha Mining Corporation (OMC), indicated BJD MP Bhartuhari Mahatab.

Besides, the Centre has also told Posco to try other options like forming a JV with PSUs such as SAIL for setting up the plant.
The proposed project has been stalled for about a decade due to various regulatory hurdles, including delays in land acquisition and mining leases.
Yesterday's meeting was chaired by Prime Minister's Principal Secretary Nripendra Misra and was attended by Mines Secretary Balvinder Kumar, Steel Secretary Rakesh Singh, Odisha Chief Secretary G C Pati and Posco India CMD Gee Woong Sung.

Both the Centre and the state governments do not want Posco to leave India and it was decided at the meeting that Odisha would again talk to the South Korean steel major and look for options to save the USD-12 billion project.

Posco's hope of getting the Khandadhar iron ore reserve died after amendment of the MMDR Act early this year.
Union Steel and Mines Minister Narendra Singh Tomar had made it clear that Posco needs to participate in the auction to get the iron ore mines for feeding its proposed mega steel facility near Paradip in Odisha.
The state government has, however, requested the Centre to consider the Posco issue as part of an international commitment.
One of the world's largest steel makers, Posco, in the meantime has joined Uttam Galva group to set up an estimated USD 3-billion steel plant in Maharashtra - the first Indian facility for the global giant.