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Union Min blames State Government for Posco pull out

Posco

Bhubaneswar: Union Minister of Steel Chaudhary Birendra Singh on Friday blamed the State Government for South Korean Company Posco Steel’s exit from the State.

He said the company scrapped the mega project for land acquisition problems.  The company did not get the required land for setting up of the project, Singh said with an interaction with the media at a National Steel Consumers’ Council meeting on the theme, “Present Status and Way Ahead in Steel Sector,” here.

Singh said Odisha did not implement the Land Acquisition Act. There are many other reasons also. The Central Government has given green signal to technology transfer and 100-per cent FDI in the sector.

Domestic steel manufacturers would be given priority in any Government project for which tenders are floated. Domestic steel consumption which is presently 60 kg per capita would be increased to the world average of 208 kg, he said.

He further said that within the last three years, steel exports have increased by 102 per cent.

Steel Secretary Aruna Sharma said India is a bright spot in the steel sector. The industry is working according to the BIS standards. Nobody should be exploited.

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