POSCO to start work in Orissa by April 2008

Despite the controversy and the resistance from villagers and other organizations, South Korean steelmaker POSCO announced that it would begin the 12 million-tonnes-capacity steel plant project in Orissa by April 2008. Interestingly, April 1, 2008 is the 40th anniversary of the company. At the same time, April 1 is the Orissa Day. On April 1, 1936, Orissa got the statehood status.

POSCO CEO Lee Ku-taek met Orissa CM Naveen Patnaik in Bhubaneswar to discuss the formalities. POSCO is the world's third largest steel maker. The company plans to start the construction without displacing people from its 12 mtpa greenfield steel unit site near Paradip. POSCO has also assured proper rehabilitation for the people who will lose their lands because of the upcoming project.