Final Decision on POSCO steel project today?

POSCO, the South Korean project in Odisha has failed to take off due to many reasons. A final decision on the project is expected today (Monday, Oct 25, 2010).

Today the fate of the POSCO project, which is one of the biggest FDI (Foreign Direct Investment) in India, to be decided by the Environment Minister Jairam Ramesh after the Forest Advisory Council completes it review on Meena Gupta Committee' report.

The South Korean plant has proposed to start Rs. 51,000 crore integrated steel plant project in Orissa, which has been opposed by the local people over land acquisition.

The four member Meena Gupta Committee visited and submitted its report on POSCO project in Odisha. The committed was headed by the former Union Environment Secretary Meena Gupta.