After dilly dallying for months, the much-awaited
MoU between Pohang Steel Co (Posco) of Korea and Orissa state government is
scheduled to be signed today (22 June 2005) at 5:30 pm.
Posco has proposed to set up a 12 million tpa
steel plant in phases with a total investment of $12 billion including $2
billion for infrastructure development.
It is also likely that the project will come up
in Paradip district of the state. The Orissa government had offered three sites
-- Paradip, Dhamra and Duburi -- out of which Paradip was found to be most
suitable, it is learnt.
Also See:
Orissa
agrees to Posco's ore exchange demand (18-Jun-05)