Orissa to examine possible JV between Sail and Posco

Bhubaneswar:The Orissa government todaysaid it was not informed about a reported proposal by theUnion Steel ministry for a joint venture between public sectorSAIL and South Korean steel major Posco, which has failed to

set up a Rs 52,000 crore mega steel plant in the state.

[caption id="attachment_108699" align="alignleft" width="380" caption="The steel ministry has reportedly given the suggestionto Posco which signed the MoU with the state government sixyears ago for the mega steel plant, but is yet to set up theplant.PTI"][/caption]

"We have not been informed about the proposed jointventure between Sail and Posco. We will certainly examine itafter being properly informed," Steel and Mines MinisterRaghunath Mohanty told reporters here.

Mohanty was reacting to the Union Steel ministry'sreported proposal to Posco for jointly establishing the megasteel plant in Orissa.The steel ministry has reportedly given the suggestionto Posco which signed the MoU with the state government sixyears ago for the mega steel plant, but is yet to set up the

plant."It is up to Posco whether they will implement theproject jointly. The state governemnt will certainly examineit if such a development takes place," Chief Secretary BKPatnaik told reporters here.

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Meanwhile, the Posco Pratirodh Sangram Samiti (PPSS),the body opposing Posco's project, said it would continue toprotest even if Sail became part of the project.

PTI