Centre keen to remove hurdles for Posco

Bhubaneswar: Union steel and mines minister Virbhadra Singh on Monday said that the Centre is leaving no stone unturned to see that South Korean steel major Posco’s Rs 54,000-crore project in Odisha is kicked off after all the regulatory clearances in the 4-5 months.

Efforts are on to ensure that the entire matter is seen, signed and delivered in the next 4-5 months.

This includes physical transfer of land and all regulatory clearances to Posco, Singh told reporters after an eight-member Posco delegation headed by company’s chairman and global head Joon-Yang Chung called on him in New Delhi.

The meeting assumes significance in the wake of South Korean President Lee Myung-bak taking up with the matter with prime minister Manmohan Singh later in the evening.

The minister added that once the matters are addressed, the company will start production in two years.

It was a very fruitful meeting, Joon-Yang Chung said after the meeting.

Singh said mines have already been allotted to Posco but some claimants, including a PSU, have moved the Odisha High Court against this.

Singh said that the Centre would request to the Odisha High Court to dispose of the case expeditiously, adding that the litigant PSU would also be persuaded to withdraw the case.

He said that the steel giant is also in talks with the Maharashtra and Karnataka governments for steel projects which will be over and above the Odisha project.