[Reader-list] Posco seeks extension of approval for Odisha SEZ

[Asit Das]

Date: 27 October 2013
Subject: Posco seeks extension of approval for Odisha SEZ | Business
Standard



http://www.business-standard.com/article/economy-policy/posco-seeks-extension-of-approval-for-odisha-sez-113102600767_1.html#.UmzLzNyp8go.gmail
*BS Reporter  *
*October 26, 2013* Last Updated at 21:37 IST
Posco seeks extension of approval for Odisha SEZ

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Posco India<http://www.business-standard.com/search?type=news&q=Posco+India>,
which is developing a 12-million tonne per annum steel plant
nearParadip<http://www.business-standard.com/search?type=news&q=Paradip>
has
sought extension of in-principle approval granted by the Union commerce and
industry ministry for its multi-product Special Economic Zone.

The in-principle nod for
SEZ<http://www.business-standard.com/search?type=news&q=Sez> spread
over an area of 1,620.5 hectares (4,004 acres) of land expired on October
24 this year. The South Korean steel behemoth has applied for extension for
one year.

Justifying the need for extension, Posco India said though the
Odisha<http://www.business-standard.com/search?type=news&q=Odisha>
government
had handed over physical possession of 1,704 acres to the company, the land
was not completely free from encroachment. The encroachment removal and
compensation disbursement process in some areas is still going on.

"The land demarcation process is still being carried out by the concerned
authorities and the leasing process is also underway. Since all these
activities are still going on, the required documents for the formal
approval are not ready as of now. We expect that these activities will take
at least three to five months", Posco India's general manager Hak Soo Kim
wrote to the development commissioner, Falta SEZ.

The steel major claimed it had achieved considerable progress during the
validity of the previous in-principle approval.

For Stage-I, Posco India had requested the Odisha government to provide at
least 2,700 acres of land for setting up an eight-million tonne steel plant
and the remaining 1,304 acres in the second stage for another four mtpa
capacity.

Accordingly, the state government has so far cleared 2,700 acres and handed
over possession of 1,704 acres to the steel company.

Odisha Industrial Infrastructure Development Corporation (Idco), the nodal
agency for land acquisition, is in the advanced stage of handing over
another 1,700 acres of land to Posco India.

Posco India is also awaiting revalidation of environment clearance from the
Union ministry of environment & forests (MoEF).

The National Green
Tribunal<http://www.business-standard.com/search?type=news&q=National+Green+Tribunal>
(NGT)
in its last hearing on August 12 this year had asked MoEF to take a
decision on revalidation of green clearance for Posco byAugust 23.

MoEF had granted environment clearance (EC) to Posco for a four-mtpa steel
plant in July 2007 with a five-year validity. Without revalidation of EC,
Posco India would not be in a position to start construction work.

Posco India, in May 2012, had applied for revalidation of the original EC.