Pakistan’s Steel industry news and business
Wednesday February 21st 2018




Posco finds new friend, Swain lends his party’s support to steel project

BHUBANESWAR: Newly formed political outfit Utkal Bharat on Friday accused the Bharatiya Janata Party [BJP] of practicing “double standard” with regard to establishment of Posco steel project in Orissa.

Former BJP MP and Utkal Bharat president Kharavel Swain said the BJP was creating confusion about the Posco’s Rs 52,000-crore foreign direct investment (FDI) proposal for gaining political mileage. The former BJP stalwart and close confidant of L.K. Advani, resigned from the party alleging large-scale corruption and nepotism practised by senior leaders.

“When the BJP was itself a partner in the BJD-led state government in 2005, its leader Biswa Bhusan Harichandan was industry minister. It is during Mr Harichandan’s stint, the memorandum of understanding for the 12-million-tonne steel plant was signed. Now that the party is out of power, it is opposing the project,” Mr Swain said at a press conference here.

Mr Swain made it clear that the BJP was attempting to misguide the public by feeding wrong information about the project.

Stating that the Orissa lacked development because of “inadequate” focus on industrialization, the Utkal Bharat president said once Posco project was commissioned, it would greatly contribute to the enrichment of the state economy. [Read More]