The State Government is still “optimistic” about setting up of the Posco’s proposed steel facility near Paradip even as the South Korean steel major’s project is delayed by about a decade.
“The Posco project work has not started. However, we are optimistic about implementation of the project,” Steel and Mines Minister Prafulla Kumar Mallick told the State Assembly on Friday.
Replying to a written question, the Minister said the State Government has so far provided 2,752 acres of land to the State-owned Industrial Infrastructure Development Corporation limited (IDCO) for the purpose of setting up the Posco project in the first phase.
The IDCO has meanwhile handed over 1,880 acres of land to the steel company, he said.
The Government, he said, has renewed water agreement for Posco plant in 2010. The project unit requires 3.5 cusecs of water.