Unconfirmed reports indicate that the union government is considering to provide an iron ore exploration licence to South Korean firm POSCO for its planned $12 billion steel plant in Jagatsinghpur, Odisha.
Granting of this license may expedite the long-delayed steel project, which is said to be the largest foreign direct investment in the country.
It may be recalled that in May, the Supreme Court asked the union government to decide on granting an iron ore mining licence to the South Korean firm.
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