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Decide on POSCO license: SC to Centre

Source : IBNS
Last Updated: Fri, May 10, 2013 12:34 hrs

The Supreme Court on Friday ordered the Centre to take a decision on granting an iron ore licence to South Korea's steel major POSCO for its plant at Khandadhar hills in east Indian state of Odisha.

The apex court directed the Centre to take a final decision on the matter after taking into consideration all objections raised by different parties in connection to the allotment of an iron ore license in the area.

The court also set aside the Odisha High Court´s order that had quashed the state government's petition to allot iron ore licence to POSCO in Khandadhar hills.



The 12- billion-dollar steel plant, to be built and run by POSCO, is facing consistent resistance from the villagers.

POSCO has been touted as the largest Foreign Direct Investment (FDI) in India, but mounting protest by villagers who are facing displacement has put the project´s future in question.

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