Uncertainty continues to loom large over the fate of South Korean giant Posco's integrated steel and captive port in Orissa as an Environment Ministry expert panel has deferred its decision on it by 10 days.
Sources said that the Posco has submitted comprehensive environment report (EIA) to the Expert Appraisal Committee (EAC) and promised 18 lakh per acre as compensation along with alternative land for the tribals who would be affected due to land acquisition.
The EAC on infrastructure and coastal regulation zone will meet again to review the EIA report for a captive port at Jatadharmohan Creek, Paradeep in Orissa for supporting the 12 million tonnes per annum (MTPA) POSCO steel plant.
The minor port is being set up to facilitate the import of coal and iron ore and export of finished steel products.
The Posco's Rs 54,000 crore integrated steel project, billed as the largest FDI in the country, is facing rough weather for alleged environment norms violation.
The Forest Advisory Committee of the environment ministry has already favoured cancellation of the forest clearance given to it citing alleged violations of the Forest Rights Act by Orissa. However, the company has categorically denied having violated any provisions of the Environment Protection Act, 1986.
The 12 million-tonne-capacity steel plant is proposed to come up on a land of about 4,000 acres in Orissa, out of which 2,900 acres is forested land which requires special forest clearance while a captive port is proposed nearby.
The Memorandum of Understanding (MoU) for the project was signed in June 2005 between Posco and Orissa government.