This is the third incident in the last three days when activists took at least 13 Posco officials into captivity when they tried to enter the proposed steel plant area
"The state government has so far acquired over 2000 acre of land for Posco steel plant. The company could easily start its work over the acquired land," Chief Secretary B K Patnaik told reporters.
The company said it has no plans to shift the $12 billion steel project from Orissa.
South Korean steel giant Pohang Steel Company on Tuesday asserted that it will develop a captive port near state-owned Paradip port
Commenting on the development, H K Patil, minister in charge for Gadag district in the Karnataka government, said the people of the area will be happy with Posco's pullout.
POSCO officials have said it was unlikely to build the plant without assured supply of iron ore.
The Union ministry of environment and forests on Tuesday put out an 'update' on the integrated steel plant and captive port of Posco India Pvt Ltd, with hints at stopping the Orissa government from transferring 1,253 hectares of forest land to the company for non-compliance of conditions laid down in the final approval of land diversion given on December 29, 2009.
The multi-product SEZ will bring in more than Rs 2.11 lakh crore of net foreign exchange in 30 years.
The Korean company's proposed 12 million tonne per annum project at Jagatsinghpur district in Odisha is stalled for about a decade.
Ridiculing Odisha government's claim that land acquisition for the proposed Posco project near Paradip was complete, CPI-backed Posco Pratirodh Sangram Samiti (PPSS) said demolition of betel vines did not mean taking over possession of farmers' land.
Land acquisition for the South Korean steel major Posco's proposed steel plant near Paradip was completed on Thursday with the Odisha government demolishing 25 more betel vines at Gobindpur village, official sources said.
Is it inconsistency in policy, or the lack of robust support?
Rejecting a UN panel recommendation for halting Posco's port-to-steel plant project, both the Republic of Korea and the Odisha government on Monday exuded optimism to go for the ground-breaking ceremony of the proposed facility near Paradip early next year.
After struggling to acquire land for a steel plant in Orissa since 2005, Korean steel giant Pohang Iron and Steel Company (Posco) has found a way of gaining a foothold in India. It has agreed in principle to tie up with state-owned Steel Authority of India Ltd for a steel project that is likely to cost upwards of Rs 15,000 crore.
The government is working to expedite clearances to $12 billion project of steel major Posco in Odisha that was awarded environment clearance last week, Commerce and Indutry Minister Anand Sharma said on Tuesday.
Billed as India's biggest foreign direct investment, the Posco project has been delayed by more than five years.
Sharma agrees to expedite the Odisha project; offers clarity to Tesco on sourcing norms; to meet Etihad delegation.
Korean steel major POSCO expects to begin production in India by 2009 as part of its plans to increase its global capacity to 50 million tonne per annum within next 10 years.
South Korean envoy described the Posco investment as the biggest FDI project in India.
South Korean steel giant Posco has narrowed down on Sanand (Gujarat) for setting up its steel coil unit at an investment of $20 million.
Frustrated over delays in getting approvals for its Rs 52,000 crore (Rs 520 billion) steel project, South Korean steel giant Posco is reviewing its investment plans in India while looking at other options in South East Asia.
Posco-India on Friday said it is now "comfortable" about its proposed Rs 51,000 crore (Rs 510 billion) steel project in Orissa, a day after its compensation package was approved by a committee set up by the state government to iron out land acquisition issues related to the project.
Posco Daewoo, the South Korean conglomerate whose Cielo sedan and Matiz hatchback were once the pride of Indian car owners, is looking to re-enter India. And its return journey is riding on plans to sell electric bikes and e-cycles. The company termed India's robust economic growth and surging consumer demand as reasons behind its comeback plans, saying they make India "one of the world's most promising consumer markets," according to Y S Choi, general manager, Posco Daewoo South Korea.
The Commerce Ministry earlier this week commissioned a study to assess the impact of free trade agreement with South Korea, with which India had a trade deficit of about $9 billion in 2012-13.
PPSS leaders said they have been demanding stoppage of survey work, but the administration has ignored their pleas.
The government's revalidation of the environment clearance for its steel plant in Odisha may not go far and it may still be years before the project takes off.
The South Korean steel major Posco, facing stiff opposition from the local people for acquisition of land for its 12-million-tonne steel project in Orissa, may have to directly negotiate with the project affected villagers.
A day after nabbing of a key accused in the clash at proposed Posco steel plant site near in Pradip, Communist Party of India leader and former member of Legislative Narayan Reddy was arrested in connection with the violence that claimed one life.
The Queensland Government has declared the rail corridor as a Strategic Development Area, the statement said.
Industry sources added that Posco India would be assured of a strong marketing network in India through SAIL's extensive all-India network and a dedicated port at Haldia. SAIL also has seven iron ore mines.
The much-delayed $12 billion Posco steel project in Odisha is set to be operational in the next few weeks and granting of mining concession to the South Korean firm was in an advanced stage of processing, Prime Minister Manmohan Singh said on Thursday.
From setting up cutting-edge facilities to cater to the domestic market and building capabilities of global standards, the action is building up.
The development comes in the wake of a high-level panel formed to address issues impeding mega projects in the steel sector, reviewing the stalled projects this month.
Posco ICT is the IT arm of South Korean steel giant Posco, which proposed to set up a 12 million-tonne steel plant near Paradip.
The Korean major, which is not able to set up the unit for the past seven years because of land acquisition issues and agitation by the locals, has revised its land requirement to 2,700 acres from the earlier 4,000 acres.
Forest land measuring 1838.79 hectares in Odisha has been diverted for 15 industrial projects in the state between 2004 and 2013.
The police on Saturday cracked down on agitators protesting against the Posco plant in Orissa, mostly women and children, at Balitutha, the entry point to the proposed plant site. The police fired teargas shells and rubber bullets to disperse the preotestors, injuring at least 20 people. The security personnel ordered nearly 1,000 agitators of the Communist Party of India-backed Posco Pratirodh Sangram Samiti, who have been on dharna since January 26, to disperse immediately.
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