Posco India Chairman and Managing Director (CMD) Yung Woon Yoon on Monday met Development Commissioner (DC) Jugal Kishore Mohapatra, a day before the second joint committee meeting at ministerial level to be held in Seoul, South Korea on April 23.
The meeting would deliberate the problems being faced by Posco India for its proposed mega steel project near Paradip in Jagatsinghpur district and the measures that could give a push to materialise the country’s largest ever foreign direct investment (FDI) project worth $ 12 billion. Meanwhile, the State Government through its Resident Commissioner at New Delhi had submitted a status report on the proposed Posco India project, relating to land acquisition and other related infrastructure development measures to the Union Steel Ministry for facilitating the Seoul meet.
The status report also includes fresh initiative being taken by the State Government on mineral concession issue and steps for singing a tripartite deal to renew the MoU for another five years so as to ensure the coming up of the ambitious project.
According to official sources, Yoon during the meeting had urged the Development Commissioner to take pro-active steps for handing over the required land for setting up the downsized 8 MTPA steel mill from the original project proposal of 12 MTPA.
Besides, Yoon had reportedly taken up the issue of early finalisation and renewal of the MoU that had lapsed since June 21, 2010. However, the Posco CMD refused to say anything about the meeting.