At least six major industries have pulled back their projects from Odisha while South Korean steel player, Posco has temporarily put its plan of setting up a 12 million tpa greenfield steel plant near Paradip, on hold.
Posco India deposited Rs 41,61,71,739 with the state-owned IDCO for procurement of land, out of which Rs 40,17,61,606 has been sent and exhausted for land acquisition.
Posco, in April 2016, had informed the National Green Tribunal that its steel project in Odisha could not proceed any further due to regulatory hurdles.
The steel maker told the green panel that it was yet to receive land and forest clearance for setting up the plant.