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You are here: Press Room Regarding the opinion of Ms. Meena Gupta Committee  
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Bhubaneswar, October 20, 2010
POSCO has categorically stated that our Company has never violated any law or procedure for obtaining any governmental clearance whatsoever required for the Project.

Regarding the opinion of Ms. Meena Gupta Committee reported in the media, POSCO has categorically stated that our Company has never violated any law or procedure for obtaining any governmental clearance whatsoever required for the Project.

The Company understands that there could be differences in points of view held by different stakeholders about the adequacy or sufficiency of processes followed to obtain various clearances, but the Company strongly denies allegations of violation on the basis of such differences in viewpoints.

After five long years of MOU, we have not been able to commence any operation, owing to our commitment to obtain all necessary statutory clearances before commencing any operation. Due to unexpected delay in initiating project work, certain circumstances, laws and legal procedures including interpretations have been changing, causing the differences in perception of different stakeholders.

Since the time of signing of the MOU in 2005, we have maintained that we shall set high standards of environment protection and corporate governance, better than the existing situation. We are firm on our commitment as always.

 
 
 
 
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