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Supreme Court clears the way for Posco to set up Steel Plant in Orissa

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The Supreme Court has permitted the Asia’s leading steel production company Posco to set up its steel plant in India. Meantime, the claimed source at the www.propertykhazana.com said that that Posco is geared up to invest USD 12 billion for the proposed plant coming up in Orissa. This mega plant project in Orissa is said to be the major FDI in India.
The proposed steel plant is expected to provide around 18,000 jobs, but there are severe dissents against the government and the steel plant from the farmer community. State wide farmers are united and demanding the Orissa state administration not to allow Posco Company into the state and most of the farmers in the region are panic of loosing their lands.
Speaking to the www.propertykhazana.com Dongria Kondh tribal Jitu Jakaka, said that “the mountain region is our spiritual sentiment where the proposed steel plant is coming up”, we will rigorously continue the protest. Abhay Sahu, the head of the protestors said that the farmers are not ready to give the lands for the project.
On the other hand, Orissa state government is looking for fair negotiations with the farmers and in the meantime, the government is also looking for Foreign Direct Investments into the state and thus to create more job opportunities. Either the senior government officers or the Posco company representatives were unavailable to comment on the issue.
The source further added at the www.propertykhazana.com says that the Posco Company will proceed accordingly with the court orders and around 4000 acres of land is still to be acquired. Posco SM Mr. Vikas Sharan said that the project will be initiated according to the agreement made in the year 2005 with over 4000 acres of land.
Source: NBTVLIVE

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