Committed to smooth offtake of Posco project: Sharma

The assurance was given by commerce and industry minister Anand Sharma to a visiting South Korean delegation at the ongoing partnership summit organised by the Confederation of Indian Industry. "We are committed to the smooth offtake of the Posco project and will look into the recent developments to expedite the project in consultation with the state agencies. The first meeting of the Cabinet Committee on Investment is day after tomorrow (January 30)," Sharma added.

The Korean side raised the issue of delays in the project clearance emphasising the importance of the project for enhancing the economic ties between the two countries. Incidentally, this is the biggest inbound foreign direct investment (FDI) proposal. “Posco is concerned about the delays and we will conduct a review of the project. The Prime Minister himself has been monitoring it,” Sharma said.

Sharma also said that a delegation from Abu Dhabi-based Etihad Airways is expected to meet him on Thursday, fuelling speculation that its proposed tie-up with Jet Airways could be announced as early as next week. "They are meeting me on January 31," Sharma said.

The meeting assumes significance because Jet has announced that the talks are on with Etihad for a possible stake sale. Jet's board of directors is scheduled to meet on February 1 to take on record its October-December earnings but sources say that the details

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