South Korean steel giant Posco has been granted clearance by the Environment Ministry for it 52000 crore rupees plant in Odisha. The clearance is, however, been granted with some conditions involving environment and forests. Environment Minister, Mr Jairam Ramesh has, however, sought an assurance from the Naveen Patnaik government in Orissa that there would be no Forest Violation Act in the state while acquiring over 1200 hectares of forest land for Posco.
He said the final approval will be granted to the project only after the assurance from the state government.
According to a study, the project is estimated to generate 8.7 lakh jobs and contribute 11.5 per cent to state's economy by 2017. With 12 million tonne annual capacity, Posco is expected to contribute one-tenth of central government's annual steel production target of 120 million tonnes per annum by next year. Posco is the single biggest foreign direct investment project in India.
BJP and CPI have decided to oppose the project till it is shifted to a different location. Former Union Tribal Affairs Minister and Odisha BJP president, Mr Jual Oram, has also criticized the decision. However, Posco Managing Director, Mr GW Sung, has welcomed it.
Meanwhile, the Posco Pratirodh Sangram Samiti, an anti-Posco organisation, has called for a rally today at the project site itself against the decision.
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