Synopsis: Faced with resistance from locals, POSCO has decided to leave aside private land and go ahead with the construction work of its project on Govt. land. Out of the 4,004 acres required for the project, 3,566 acres is Govt. land and the rest is private.
Describing the progress of the project as ‘slow but steady’, Mr. Soung-Sik Cho, CMD, POSCO-India, however, hoped that the ground breaking ceremony for the steel plant would be held during the first half of 2008. “We also hope that the land preparation work for the project would begin in April 2007,” he said.
Mr. Cho said that “I think the Centre and the State Govt. will extend all support to the project for its completion.” Ruling out any change in the location, he said that the company would try to persuade villagers and open communication channels with them.
Referring to the iron ore swapping clause in the MoU, Mr. Cho said that the company hopes to reduce it from 30%. However, the extent of the reduction would be finalized after the company would be given mines.
When asked about newspaper reports that the company had bribed some senior Govt. officials, Mr. Cho dismissed the allegations saying POSCO does not follow any unethical practice.
