News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

Rediff.com  » Business » Posco failure: BJP blames Orissa govt

Posco failure: BJP blames Orissa govt

Source: PTI
October 20, 2010 13:56 IST
Get Rediff News in your Inbox:
The Bharatiya Janata Party on Wednesday held the Orissa government responsible for the non-implementation of the Rs 51,000 crore (Rs 510 billion) Posco steel plant project.

"Both Posco and Vedanta projects face trouble due to the direction-less policy of the state government headed by Naveen Patnaik," BJP leader Bijay Mohapatra said.

Both the projects could have been implemented had the government acted in accodance with the law of the land, he said adding "hidden agenda" and "secretive nature" of the state government had led to a situation where no one was sure whether the Posco project could ever be implemented.

Though an MoU between Posco-India and the state government was signed five years ago (June 22, 2005), the project could not come up as the state government wanted to keep everything under the wrap, he said.

The South Korean steel major's first phase of the steel plant was schedueld to be commissioned in 2010 as per the original plan.

However, five years since the MoU, the company was yet to acquire an inch of land for the purpose of building the steel plant.

Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!