More on Posco & Vedanta Mega Projects in Orissa

Source: orissatimes

Posco, Vedanta get Supreme Court nod for Mega Projects in Orissa
8th August ,2008

The Supreme Court cleared all hurdles in the way of controversial Sterlite (Vedanta) and Posco projects in Orissa. However, it imposed certain conditions to ensure the environment safety and welfare of the tribals affected by the mining projects. Sterlite Industries, the Indian subsidiary of Vedanta Resources Plc. got the final nod to proceed with its controversial Rs. 4,000 crore aluminium project in the Niyamgiri hills

Source: timesofindia

Supreme Court nod for Posco's steel plant in Orissa
8 Aug 2008, 1853 hrs IST,PTI

NEW DELHI: The Supreme Court on Friday permitted South Korean steel major Posco to set up Rs 51,000-crore mega steel plant and captive minor port in Paradeep, Orissa.

A special environmental bench headed by Chief Justice K G Balakrishnan allowed Posco India Pvt Ltd, a subsidiary of Korea-based Posco, to go ahead with its plans.

With this order, the apex court has also cleared forest diversion proposal for the plant site which require 1253.225 hectares of forest land.

The court while directing the Orissa government to dispose of all the Posco's applications seeking prospecting licences within four weeks it also asked the state to send its recommendations to the Ministry of Environment and Forests, which would proceed in accordance with law.

The bench also asked the state government to undertake implementation of compensatory afforestation plan under the supervision of a Supreme Court-appointed committee comprising top officials of the state government.

Welcoming the decision, Posco India senior general manager Vikash Sharan said, "We reiterate our firm commitment to the project and are determined to move ahead in terms of land preparation and construction activities at full speed."

Posco, the world's third largest steel producer, on June 22, 2005 entered into an MoU with the Orissa government for a 12mtpa steel plant in the state.

Posco counsel Mukul Rohtagi contended that the state government-owned Orissa Mining Corporation had agreed to supply uninterrupted iron ore and other minerals for its steel project and had identified mines in the western part of the state, some 300 km away from its project site.

"Unlike bauxite mines, there is no shortage of iron ore mines as India exports more than one million tonnes. The company can source raw materials on its own and can buy the same from the open market," he said, adding "We are not dependent on prospecting licence."