Decision on POSCO steel mill in Orissa on Jan 31 - minister

NEW DELHI Mon Jan 24, 2011 2:46pm IST

An employee of POSCO, South Korea's largest steel maker, works at the company's headquarters in Pohang, about 370 km (230 miles) south of Seoul, February 25, 2009. REUTERS/Jo Yong-Hak/Files

An employee of POSCO, South Korea's largest steel maker, works at the company's headquarters in Pohang, about 370 km (230 miles) south of Seoul, February 25, 2009.

Credit: Reuters/Jo Yong-Hak/Files

Related Topics

NEW DELHI (Reuters) - India 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 eastern Orissa state, 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:

Lost Flight

Indonesia halts search for missing AirAsia plane as night falls

Indonesia halts search for missing AirAsia plane as night falls

Indonesia called off until first light a search for an AirAsia plane carrying 162 people from Indonesia's Surabaya to Singapore, which went missing on Sunday just after pilots requested a change in course to avoid bad weather.  Full Article | Video 

REUTERS SHOWCASE

India vs Australia

India vs Australia

Rahane, Kohli build record stand to defy Australia  Full Article 

Year in Review

Year in Review

After turbulent 2014, next year may be no calmer.  Full Article 

Uber Case

Uber Case

India working to fix e-commerce payments post-Uber case - Rajan.  Full Article 

U.S.-Cuba Ties

U.S.-Cuba Ties

In U.S.-Cuba prisoner swap, mystery surrounds the unnamed 53  Full Article 

Aceh Gays

Aceh Gays

Strict sharia forces gays into hiding in Indonesia's Aceh  Full Article 

Sony Hacking

Sony Hacking

Sony works for third day to restore PlayStation after attack  Full Article 

Torres Deal

Torres Deal

Atletico close to sealing Torres deal   Full Article 

Movie Review

Movie Review

Ugly: Dark and disturbing, but worth a watch  Full Article 

Reuters India Mobile

Reuters India Mobile

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