Won't abort Odisha steel plant: Posco India CMD.

Despite inordinate delay in grounding its 12 million tonne steel plant in Odisha due to hurdles over land acquisition and getting captive mining lease, South Korean steel maker, Posco is no mood to quit the project.

'We would not quit. No, never. We have been waiting (for the project) for 10 years', said Gee Woong Sung, chairman and managing director (CMD), Posco India after emerging out of a meeting with state chief secretary G C Pati, recently.

'The discussion was successful', he said, refusing to disclose the details.

Sung also met state industries secretary cum CMD of Odisha Industrial Infrastructure Development Corporation (Idco), Vishal Dev.

Though the and acquisition for the first phase of the project, comprising 8 million tonne, has been completed, the project has been stuck over grant of mining rights to Posco over Khandadhar iron ore deposits in Sundergarh district.

After protracted legal battle, the Supreme Court had upheld the decision of the state government recommending grant of prospecting licence (PL) to Posco and asked the Centre to dispose off the matter suitably.

However, the Centre has held up the matter, seeking some clarifications from the state government over its PL recommendation in favour of Posco.

The state government is now ready to furnish its compliance report to the Centre.

BS