New Delhi -°C
Today in New Delhi, India

Dec 09, 2019-Monday
-°C

Humidity
-

Wind
-

Select city

Metro cities - Delhi, Mumbai, Chennai, Kolkata

Other cities - Noida, Gurgaon, Bengaluru, Hyderabad, Bhopal , Chandigarh , Dehradun, Indore, Jaipur, Lucknow, Patna, Ranchi

Monday, Dec 09, 2019

SC clears Posco’s Orissa steel plant

The Supreme Court clears South Korean steel major Posco’s plans to set up a Rs 51,000 crore mega steel plant and captive minor port in Paradeep, Orissa.

business Updated: Aug 08, 2008 23:04 IST

PTI
Hindustantimes
         

The Supreme Court on Friday cleared South Korean steel major Posco’s plans to set up a Rs 51,000 crore mega steel plant and captive minor port in Paradeep, Orissa.

A special environmental bench headed by Chief Justice KG Balakrishnan allowed Posco India Pvt Ltd, a subsidiary of Korea-based Posco, to go ahead with the project, for which an agreement was signed with Orissa government on June 22, 2005.

Posco has so far been able to get about a quarter of the required 4,000 acres of land. The court has allowed Posco use of another 3,000 acres of forest land.