to kick off the first phase of construction in Jagatsinghpur district. It has got the possession of 1,703 acres and rest of the 1,000 acres is to be transferred soon. Posco has already started construction of the boundary wall in the acquired area.
Moreover, the Odisha government is also looking to sign a fresh tripartite agreement with Posco as original MoU had lapsed three years ago. Since then, there is no formal agreement with the South Korean major for the proposed plant.
Last week, the state government had also decided to grant Prospecting Licence (PL) to company over Khandadhar iron ore mine. The project includes extraction of iron ore over 30 years and development of related infrastructure.
Last year, facing inordinate delays in land acquisition and local opposition, Posco had scrapped its proposed Rs 30,000 crore project in Karnataka.