SC approves forest land for POSCO plant | business | Hindustan Times
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SC approves forest land for POSCO plant

Supreme Court allows South Korean steel firm POSCO the use of large swathes of forest land to build a $12 billion plant in Orissa.

business Updated: Aug 08, 2008 17:06 IST

Supreme Court on Friday allowed South Korean steel firm POSCO the use of large swathes of forest land in the country's east to build a $12 billion plant, a company official said.

The project, India's single biggest foreign investment, had also been left hanging for more than two years due to stiff opposition from local farmers angry over losing their land.

"The decision is in favour of POSCO," a company spokesman said. "The forest diversion proposal has been cleared by the Supreme Court."

Supreme Court officials were not immediately available for comment.