The Hindu Business Line : Posco to submit feasibility report on proposed steel plant

POHANG Steel Company (Posco) will submit its feasibility report for its proposed 12 million tonnes per annum (mtpa) greenfield steel plant in Orissa. It has set up several support groups for facilitating the works, according to a company release.

The Posco Chairman, Mr Ku-Taek Lee, visited Orissa recently and held top-level meetings with the State Chief Minister, Mr Naveen Patnaik, and other senior officials on the progress of the company's plans.

He also met the Deputy Chairman of Planning Commission, Dr Montek Singh Ahluwalia, the Minister of Mines, Mr Sis Ram Ola, and the Minister of Commerce & Industry, Mr Kamal Nath during his visit.

According to Mr Lee, after submission of the feasibility report, various agreements, including land lease, prospective licence and water supply, would be signed with the respective departments of the Government of Orissa as well as the public sector undertakings (PSUs).

Various supporting group departments have been set up that would assist both systematically and strategically in the overall operations to make the company a competitive top-tier steel maker in India, stated Mr Lee.

A total of 33 sections have been formed within the main five sectors of facility, operations, technology, planning and management, comprising a total of 88 employees.

"The work progress has been on schedule and I am satisfied with the pace of work that is being undertaken for the project. Our endeavour is to provide full support to this project and I will visit Orissa as often as possible because the importance of this project can never be overstated," said Mr Lee.

Mr Lee also stressed that the success of the Posco's project would also be instrumental in the development of Indian industry and offer strong support in its road to rapid development.

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