Posco India today expressed the optimism that land acquisition for its Rs 52,000-crore integrated steel plant in Odisha’s Jagatsinghpur district will be completed soon.

The Odisha government had halted land acquisition activities for Posco’s proposed Rs 52,000 crore mega steel plant project for a day yesterday in view of stiff opposition from locals.

“With the current phase of land clearance by the authorities progressing well and peacefully with the consent of the concerned villagers, we understand it will take some days for the completion of the process of the required land,” Yong Woon Yoon, Chairman and Managing Director, Posco India said.

“We are happy that the land clearance process has resumed again and hope that it will be over smoothly with the support of the villagers, without any further halt or obstruction. We hope to start land preparation work soon,” Yoon said.

“As a responsible corporate house, Posco India has always acted as per the law and rules of the state and the country and will also continue doing the same in future. The company believes that the world class steel facility it is going to set up in Odisha will benefit all stakeholders including the local people and the state,” he said in a statement.

Expressing resolve for setting up the planned integrated steel project in the state, he said the company would set up 8 million tonnes per annum steel facility on first stage over 2,700 acres of land.

The South Korean steel major, according to official sources, was informed by the state government that a total of 50 betel vines had been demolished over a period of four days from last Sunday.

(This article was published on February 8, 2013)
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