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Even after waiting for nearly eight years since the signing of the memorandum of understanding (MoU) with the Odisha government, Posco India is not sure on the timing of completion of land acquisition for its 12 million tonne steel plant.
The South Korean steel major is pinning hopes on the state government for handing over of 2,700 acres of land to enable it to start work on an 8 MT-capacity plant in the first phase.
"Until when the land will be acquired, we are not sure. But the recent mining case (SC order on Khandadhar lease) going in favour of us and the state government taking positive initiatives to clear the land, we are hopeful that the land will be handed over to us soon”, said Posco India chairman and managing director Yong Won Yoon said after meeting chief minister Naveen Patnaik.
Though the state government has acquired nearly 2,700 acres of land, only 1,700 acres have been handed over to Posco India.
Asked on the timing of renewal of its lapsed MoU, Posco India CMD said, “Yes, we had a talk with the chief minister on the MoU renewal. But, we cannot comment as to when the MoU is going to be renewed. The state government has to take a call on it.”
Posco India had entered into an MoU with the state government on June 22, 2005. The pact expired five years later in 2010.
Asked on CSR (corporate social responsibility) activities at its project site, Yoon said, “Its not that we will be initiating CSR activities after getting land. Presently, we are also doing some CSR work. With the clearing of land, we need to discuss with the state government on what can be the good CSR activities. We need to prepare a master plan for CSR and implement it accordingly.”
