POSCO welcomes SC decision on Khandadhar

Welcoming Supreme Court's judgement on Khandadhar iron ore mine case, Posco-India today assured would significantly help to expedite the project and hoped the Central Government would ensure a quick and final decision on the matter.
"We welcome the judgement by the honourable Supreme Court on Khandadhar mining case. Once we receive the copy of the full judgement, we will be in a better position to comment upon," Posco-India CMD Y W Yoon said in a statement.
"However, we believe that this will significantly help to expedite the project. We are happy that it has come at a time when there has been significant progress on the land clearance work for the project," he said.

Now that the Supreme Court has set aside the judgement of Orissa High Court, it is hoped that the Centre would expeditiously look into the recommendation for PL over Khandadhar mines leading to a final decision soon, Yoon said.
It may be noted that Odisha Government had first recommended granting of PL to POSCO India in 2006 to the Centre which had returned the recommendation back the same year and directed it to conduct hearing of all the applicants. The state was asked to submit the recommendation again after hearing all the applicants.
Based on this, the state government concluded hearing of all the applicants over a time spanning around two and half years and after conclusion re-recommended the same in favour of POSCO to the Central Government in 2009.

Thus, as per the procedures under MMDR Act, it was to be reviewed and approved by the Central Government.
Earlier during the day, the Supreme Court set aside the Orissa High Court order which had quashed state government's petition to allot iron ore licence to South Korean steel major Posco in Khandadhar hills in Sundergarh district for a Rs 52,000 crore steel plant.
Apex court asked the Centre to consider all the objections raised by various parties pertaining to the mega steel plant and take a decision.