Orissa to examine proposed SAIL-POSCO joint venture

The Orissa government on Saturday said it was not informed about a reported proposal by the Union Steel Ministry for a joint venture between public sector SAIL and South Korean steel major POSCO, which has failed to set up a Rs. 52,000 crore mega steel plant in the State.

“We have not been informed about the proposed joint venture between SAIL and POSCO. We will certainly examine it after being properly informed,” Steel and Mines Minister Raghunath Mohanty told reporters here.

Mr. Mohanty was reacting to the Union Steel Ministry’s reported proposal to POSCO for jointly establishing the mega steel plant in Orissa.

The Steel Ministry has reportedly given the suggestion to POSCO which signed the MoU with the State government six years ago for the mega steel plant, but is yet to set up the plant.

“It is up to POSCO whether they will implement the project jointly. The State government will certainly examine it if such a development takes place,” Chief Secretary B.K. Patnaik told reporters here.

Meanwhile, the POSCO Pratirodh Sangram Samiti (PPSS), the body opposing POSCO’s project, said it would continue to protest even if SAIL became part of the project.