According to a status paper prepared by the Odisha government, the Indian arm of South Korean steel maker Posco is set to get 1,554 acre land for its proposes steel plant in Jagatsinghpur district.
The Indian arm of the South Korean firm plans to set up a 12-mn tpa greenfield steel facility near Paradip at an investment of Rs 51,000 crore.
Of the 2,100 acre land acquired by the state-owned Industrial Infrastructure Development Corporation (IDCO), 546 acre is already given to the company.
According to a status paper prepared by the state government, the remaining 1,554 acre is ready to be handed over to Posco.
Within four months, another 600 acre of land for the project was expected to be acquired. The ministerial level joint committee would discuss the paper on April 23, 2013 at a meeting in Seoul, South Korea.
In the first phase, the company will set up a 8 mn tpa steel plant and it required 2,700 acre for this. Both the state government and the South Korean steel major have been working for establishment of the 8 mn tpa steel facility now instead of the initially proposed 12 mn tpa capacity mega steel plant, reports indicate.
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