Posco looking at ‘other options’ for steel plant

Posco looking at ‘other options’ for steel plant
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First Published: Wed, May 09 2007. 01 06 PM IST
Updated: Wed, May 09 2007. 01 06 PM IST
By PTI
Bhubaneswar: Facing resistance from people who are likely to get displaced by its mega steel project near Paradip, South Korean steel major Posco is looking at “other options”.
“There are other options,” Posco-India Chairman-cum- Managing Director Soung-Sik Cho said when asked about the company’s future course of action if they failed to get the land.
Cho, who had a brief meeting with state Chief Minister Naveen Patnaik at the secretariat last night, however, did not elaborate on options the company is looking at.
The Posco-India CMD said the company had already started a dialogue with people of the area for acquisition of land and “there are positive signs”.
Cho added that his company would never favour any move to acquire land by force.
“We don’t want use of force by the state government for land,” he said.
Posco’s is the biggest ever FDI proposed in India as the 12 million tonne project would require an investment of Rs 52,000 crore.
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First Published: Wed, May 09 2007. 01 06 PM IST
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