Land acquisition delay won’t affect Posco project: CEO
Synopsis: Mr. Ku-Taek Lee, CEO, POSCO has stated that delay in land acquisition would not affect the schedule of the company’s steel project at Paradeep. Mr. Lee who met the CM on 12th December, 06 along with a high-level delegation said the company had requested the State Govt. to expedite the land acquisition.
Mr. Lee also admitted that there would always be hassles in such a big project. He also put forth the latest report of the National Council of Applied Economic Research before the CM with a view to seeking support for the project. According to the findings of the NCAER Report, the plant will boost the economy of the State resulting in increase in its gross output, employment and value addition.
The key points discussed included the progress of the project in Orissa, its economic impact on the State and steps taken by POSCO-India towards creating suitable infrastructure for the initiation of the project.
Earlier, Mr. Lee met Mr. P. Chidambaram, Union Finance Minister and Mr. Montek Singh Ahluwalia, Deputy Chairman, Planning Commission in Delhi.
Client
POSCO-India
Publication
The Samaya
Date
13 December 2006
Edition
Bhubaneswar
Page
7
Headline
POSCO’s construction work to be completed in scheduled time
Synopsis: Mr. Ku. Taek- Lee, CEO, POSCO has said that though the project work is delayed, the construction work will be completed in the scheduled time. Mr. Lee said the company is firm to set up its plant in Orissa. For this reason the company has signed MoU with the State Govt. He said the project work is going on as per the schedule minor problems will not affect the project much. The company also presented a report to the CM on “POSCO’s Economic Impact on the State Govt.” and the steps taken by it for the infrastructure development in the State. Accordingly to the findings of the NCAER report the proposed Orissa project will set up a chain reaction on the economy of the State resulting in gross output, employment and value addition. The CEO briefed the CM about the various CSR initiatives being taken by the POSCO –India and the measures, which have been incorporated in addition to the State Govt.’s R&R Policy.
Status on POSCO-India’s participation in the Special Purpose Vehicle (SPV) for Haridaspur-Paradeep Railway Line with Indian Railways and the proposed Port at Jatadhari, poised to create immense opportunities for infrastructure development in Orissa were also discussed.
Earlier, Mr. Lee met Mr. P. Chidambaram, Union Finance Minister and Mr. Montek Singh Ahluwalia, Deputy Chairman, Planning Commission in Delhi.
