Synopsis:
POSCO has decided not to back out from its proposed project even though the start of work has been delayed by over six months due to stiff resistance of the locals and procedural delays. However, Mr. Soung-Sik Cho, CMD, POSCO-India was hopeful that the company would kick-off site preparation for the steel plant and start construction of piling for its captive port by April next year.


Mr. Cho said that all further developments would however, be linked to the announcement of the new Mining and Mineral Policy by the Centre amid reports that the Hoda Committee on which the new policy would be based has recommended a ban on award of captive mines to steel makers.