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Home > Business > PTI > Report

7,000 new jobs in first phase: Posco

June 06, 2006 15:00 IST

When the first phase of the Rs 52,000 crore (Rs 520 billion) steel plant of Posco-India, the Indian subsidiary of South Korean company Posco is completed by 2010 around 7,000 people would get direct employment, company sources said on Tuesday.

In keeping with Posco's endeavour to create a truly Indian company, 97 per cent of the plant's total employee strength would comprise Indians during phase one - the critical phase which would lay the foundation of the 12 million tonne project, the sources said.

"This is just the beginning of the significant benefits India will derive from the Posco-India project," Soung-sik Cho, chairman and managing director, Posco-India said.

"We believe our world leadership expertise in steel production, combined with skill sets and labour strengths of local employees, will help us build a world class integrated facility in Orissa which will set benchmarks for the global steel industry," he said.

The employees would be hired for various positions including managerial positions, supervisors, consultants and general workers, Posco-India sources said.

Posco-India would required highly skilled workers, managers and administrators at each level since steel was a labour intensive industry with complex technology.

However, the company was keen to recruit talent from the state for its future manpower requirements and in pursuit of getting the right people, the company would give priority to locals while recruiting in manufacturing, engineering, construction and administration.

The company has plans to keep the locals informed about the various job opportunities through regular advertisements, the sources said.

India is expected to see significant benefits from the Posco project like creation of approximately 48,000 jobs directly and indirectly in the region and approximately 467,000 man years of employment during the construction phase, the sources said.

A total of $278.6 billion is the projected economic effect of the project considering taxes and royalty incomes for the central government as well as the Orissa government, the sources said.

They said that since the signing of the MoU with the state government in June last year and setting up of Posco's Indian subsidiary - Posco-India Pvt Ltd - in August

last year, the company had already recruited 75 employees out of which 40 are Indians and more locals were expected to join in the coming days.

Majority were from Oriya who worked in different sectors of the company like iron ore and coal mine, forest, water supply, power, road, ancillary industries and rehabilitation and resettlement.

Some were employed in various departments like township design, construction, human resource, administration, accounts, law, it, public relations etc. Besides this, the company was also currently in the process of recruitment in areas like administration, mining, procurement and public relations.

In addition to the above, about 140 Indians were engaged in the project through consulting companies in various studies, research and field work, the sources said.

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