Synopsis: The Supreme Court’s decision to permit POSCO to go ahead with its steel project in Orissa has paved the way for the biggest Foreign Direct investment (FDI) project in the country. Similarly, giving its accord to Vedanta’s plans has put on tract a project that has been stuck for sometime due to opposition from local community and environmentalists.

With the Supreme Court clearing the POSCO project, the company can now start construction work on its 12 million tonne steel plant in the state. According to the revised work schedule, POSCO is now proposing to start construction from September with the aim to commission the first phase 4 million tonne plant by 2010.

The Supreme Court’s decision to allow the UK-based Vedanta Resources to mine bauxite at Niyamgiri in Kalahandi district to feed Vedanta Aluminium Limited’s 1.4 million tonne refinery in Lanjigarh, paves the way for the alumina refinery to get a bauxite mine linkage. According to the court order, a joint venture formed by Orissa Mining Corporation (OMC) and Sterlite Industries (India) Ltd, an associate company of Vedanta Resources, will develop the Niyamgiri bauxite mines.