Posco project may get speedy clearance

The Steel Ministry on Wednesday said it may seek from the Environment Ministry speedy clearance to Posco's Rs 54,000 crore (Rs 540 billion) project in Orissa.

"If the need be, we will take up the matter with the Ministry of Environment and Forests for the speedy clearance of Posco's Orissa project," Steel Minister Virbhadra Singh said at the Assocham steel summit.

Speaking on the occasion, Steel Secretary Atul Chaturvedi said that the issue regarding Posco's 12 MTPA steel plant in Orissa could be resolved in a month's time.

"Posco issue would get resolved soon, may be in a month's time," Chaturvedi said. The statement comes amid the Union Environment Ministry asking the Orissa government to stop land acquisition process for the Posco project, saying it is in the violation of certain green norms.

Posco requires a total of 4,004 acres of land to build a steel plant with an annual production capacity of 12 million tonnes in Jagatsinghpur district of Orissa.

The project has been delayed for nearly 5 years now, due to protests against land acquisition, as 2,963 acres out of the total land required falls under the forest cover.