By the time Posco-India?s MoU completes 8 years on Saturday, the land acqusition for the project would be completed.
?We would be completing the acquisition of 2,700 acres of land required for the first phase of the project by June 22, 2013?, the district collector of Jagatsinghpur, Satya Mallik, told FE. He said only 60 betel vines in a patch are to be acquired to complete the process.The trenches are being dug and once the acquisition process is completed, a boundary wall would be erected around the 2,700 acres of land, the district collector said.
After eight years in limbo, Posco-India?s 12-million tonne steel project is showing some sign of taking shape. The MoU for the $12 billion project, billed as the largest FDI in India, was signed on June 22, 2005.
However, the project work could not take off as there was a problem in land acquisition, due to resistance by the locals. There was also resistance from the green lobby. Things become worse when the allotment of Khandadhar iron ore mines for captive purpose was entangled in litigation.
The state government, Posco-India and its parent South Korean steel company, Posco, are soon going to sign a fresh MoU for the project, signalling revival. The file is now awaiting the final approval of the chief minister, Naveen Patnaik.
Eight years down the line, things are also improving on ground zero. Resistance to the project has waned in recent months, and the process of acquiring 2,700 acres land, required for the first phase project is almost complete.
The linkage of captive iron ore mines is coming forth. After a long legal battle in the Orissa High Court and Supreme Court, the matter is now pending with the Union mines ministry. The apex court has directed the ministry to take a decision on the matter.
The last statutory clearance to the project is also coming forth. The expert appraisal committee on Wednesday has recommended the ministry of environment and forests for the revalidation of environment clearance. Since the additional conditions imposed by the committee have been agreed upon by Posco-India, revalidation of the environment clearance is inevitable.