Posco's $12 project in India to be expedited: Anand Sharma

Jan 15 2014, 21:35 IST
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So far, 1,700 acres of land, out of 2,718 acres, has been transferred to Posco: Anand Sharma  (PTI) So far, 1,700 acres of land, out of 2,718 acres, has been transferred to Posco: Anand Sharma (PTI)
SummaryFirst phase of Posco project would attract more than 50 pct of total investment: Anand Sharma

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.

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