Transfer of balance land of 1048.52 acres out of total 2193.52 acres faced problems due to non-payment of the lease value by Posco India. The time limit for the transfer of the balance land has lapsed. Posco India is yet to pay R54.22 crore towards the lease value of 2193.52 acres.
Posco India, the country arm of South Korean steel major Posco, is setting up an ultimate 12 million tonne steel plant at Paradip in Odisha's Jagatsinghpur district with an investment of $12 billion. The company is proposing to have an 8 million tonne capacity unit in the first phase of the project.
The chief secretary, who reviewed the progress of Posco India's project along with
other mega steel, power, railway and road projects at a high-level meeting on Wednesday, has directed the departments concerned to remove roadblocks in the setting up of various industrial projects in the state, including several mega steel projects. Many MoU projects in the state are not making headway because of problems of land acquisition and statutory clearances. The review meeting was a follow up on the decisions taken at the project monitoring group meeting of the Cabinet committee on infrastructural (CCI) projects, which was chaired by Anil Swarup, additional secretary in the Union cabinet secretariat, on September 5.