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




POSCO project remains grounded on betel vs steel fight

It is now the betel leaf farmers of a cluster of villages around Paradip in Orissa who now stand in the way of the Indian footprint of a global steel behemoth.

Five years back when South Korean chaebol POSCO signed an MoU with Orissa government to set up a Rs 51,000 crore mega project near Paradip, scarcely did it anticipate the trouble it would face from the betel leaf farmers of eight villages where the project is supposed to come up.

POSCO-India, which needs 4004 acres of land to set up its 12 MTPA greenfield project, failed to acquire an inch of land in the eight villages in three gram panchayats of Dhinkia, Gada Kujang and Nuagaonas even as the MoU with a five-year validity period lapsed.[Read More]