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1 Jul 2013



POSCO signed MoU with the Govt. of Odisha in 2005 to set up a 12-mpta integrated steel plant using eco-friendly FINEX technology over 4,004 acres of land near Paradip in Odisha. As per the MoU, securing land is the responsibility of the Govt. of Odisha. POSCO will take over the land once the land is cleared of encroachments by the Govt. in accordance with the applicable laws and regulations. In consultation with the local community, an R&R(Resettlement and Rehabilitation) package, which gives R&R compensation over and above what is prescribed in the Odisha R&R Policy, 2006, was approved in 2010 by RPDAC(Rehabilitation and Peripheral Development Advisory Committee), a body whose members include NGOs, local representatives, government officials and other stakeholders.