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Article

19 Mar 2017

Author:
Dillip Satapathy, Business Standard

India: Posco closes last chapter in Odisha project

It’s official now that South Korean major has scrapped the plan to set up a 12-million tonne (mt) mill in Paradip,  It has written to the state that it wants to surrender the allotted for the project...Though all activity on the plant came to a halt two years ago, leading to speculations of the firm pulling out of the venture, both and the had denied it. Therefore, Posco’s letter is seen as the first official communication marking the scrapping of the project. had signed an agreement with the state in June, 2005, seeking 4,004 acres of to set up the project. The acquisition was delayed due to agitation by the locals, which often took a violent turn. 

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