Decision on POSCO Orissa steel mill on Jan 31 - Ramesh

NEW DELHI Mon Jan 24, 2011 2:39pm IST

Environment Minister Jairam Ramesh gives a speech during a session in Cancun, December 8, 2010. REUTERS/Henry Romero

Environment Minister Jairam Ramesh gives a speech during a session in Cancun, December 8, 2010.

Credit: Reuters/Henry Romero

Related Topics

NEW DELHI (Reuters) - The government will on Jan. 31 take a decision on granting green clearances for South Korean POSCO's $12 billion steel mill, the environment minister said, a case seen as a test of the country's business climate.

An approval, if given, would be the latest in a series of moves indicating a softening by the environment ministry, whose aggressive stance on enforcing rules has had several corporations worried about their investments.

Sources had told Reuters the government was likely to approve the mill in Orissa, which has been delayed by environmental issues and protests by local residents.

A government panel had earlier said there were no ecological concerns over the plant and the final decision was with Environment Minister Jairam Ramesh.

"It will be on Jan. 31," Ramesh told Reuters when asked when the decision would be taken. He did not elaborate.

Posco is among several corporations, including Vedanta Resources, which have come under scrutiny from Ramesh, putting his ministry in conflict with others in the government who are pushing for rapid industrialisation.

In October, Ramesh threw out plans by London-listed Vedanta to expand its alumina refinery over green worries, but this week Ramesh said he was willing to conditionally reconsider Vedanta's expansion plan.

That remark came soon after the ministry said it could consider approving Hindustan Construction Co's Lavasa housing project on certain conditions.

FILED UNDER:

REUTERS SHOWCASE

Oil Prices Fall

Oil Prices Fall

Brent near four-year low after OPEC decides against output cut  Full Article 

Banking Sector

Banking Sector

India says considering plan to reduce stake to 52 pct in state banks   Full Article 

Islamic Fund

Islamic Fund

India gets new Islamic equity fund but debt market still off-limits  Full Article 

Fiscal Deficit

Fiscal Deficit

April-October fiscal deficit nears 90 pct of full-year target  Full Article 

SAARC Summit

SAARC Summit

Summit salvaged after handshake by leaders of India, Pakistan  Full Article 

Social Media

Social Media

Twitter to start tracking users' mobile apps  Full Article 

Forever21 in India

Forever21 in India

Forever21 sets sights on Indian cities, but please hold the hot pants  Full Article 

Japan Economy

Japan Economy

Japan inflation slows in October, output and spending show signs of recovery  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage