Posco-India, which has proposed to set up a Rs 52,000 crore (Rs 520 billion) steel project in Orissa, awarded annual scholarships of $500 to 35 students from three leading universities in Orissa.
Certificates were presented to the students from Utkal University, Biju Patnaik University of Technology and KIIT-deemed university by the State Chief Secretary Subas Pani, Posco-India CMD Cho, Posco T J Park Foundation Programme Director Yang Jae Woon and senior bureaucrats. The vice-chancellors of the three universities were present.
The scholarships were conferred by Posco-India in collaboration with the Posco T J Park Foundation, Posco-India chairman-cum-managing director Soung-sik Cho said at the function
held here on the occasion.
"This is a long term commitment made by the company and we will see to it that the maximum number of Oriya students benefit from such programmes. Next year we plan to double the number of eligible Indian students for the scholarships," Cho said.
"These scholarships are among Posco-India's many initiatives in making significant contributions to the community in which we live and work," he added.
Posco-India, a subsidiary of South Korea-based Posco, presently the world's third largest steel producer, has planned to set up the 12 million tonne project near Paradip but the land acquistion process was facing stiff opposition from the local people who were reluctant to part with their land.