Posco will aid locals, expedite steel project in Orissa
Posco will establish an organisation named Posco Foundation Project, which will help the local people of the project region. The Foundation will create help the people and aid their rehabilitation and the company would be able setup its steel plant.
AFTER A long stand-off, the Pohang Steel company (posco) has finally settled for a negotiation in the four year long squabble with Orissa tribals. The firm has decided to set up a foundation to rehabilitate the poor. It will work for the people who live in the project area, according to Joon Yang Chung, Chief executive officer of Posco in Bhubaneswar on Tuesday (September 14) evening.
In the hour long discussion, the officials expressed that they intended to win the hearts of the people. They have emphasised on the corporate social relationship (CSR) idea, for which they would establish a separate foundation.
The world’s fourth largest steel producer had signed a MoU with the Orissa government in June 2005, to set up a twelve MTPA green field steel plant. It had assured to invest an estimated amount of US $ 12 billion. The company had planned to build four million-tons per annum capacity steel plant in Orissa, during the first phase of its project and expand the final production volume to 12 million tons per annum.
In the press briefing, the interpreter for the South Korean chief said “We will establish an organisation named POSCO Foundation Project, which will help the people living in the project region. The Foundation will create as a win-win situation for the company and the people. It will help the poor people in relation to health care, food distribution and education (in lieu of setting up the plant).”
The world’s fourth largest steel producer had signed a MoU with the Orissa government in June 2005, to set up a twelve MTPA green field steel plant. It had assured to invest an estimated amount of US $ 12 billion. The company had planned to build four million-tons per annum capacity steel plant in Orissa, during the first phase of its project and expand the final production volume to 12 million tons per annum.
However, for the last four years, they have not been able to aquire land for it. The inhabitants of the area refuse to allow the plant to be established as it would displace them and destroy their traditional livelihood. These people, predominantly tribals, have carried out innumerable protests against the project. The situation has turned into a law and order problem many a times.
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