With the completion of land acquisition for the first phase of Posco India’s 12 MTPA steel mill near Paradip, the State Government hopes the draft of the MoU for signing of a fresh deal will be finalised by end of July.
Talking to news men here, Steel and Mines Minister Rajani Kanta Singh said that the preparation of the draft MoU was in an advance stage.
“The senior officials of the Steel and Mines and Industry departments are scheduled to meet next week to discuss and finalise the draft MoU. However, some clarifications were awaited from Posco India relating to various aspects of the deal,” Singh said, adding that clarifications would be sent to the law department for final scrutiny.
He hoped that the fresh MoU would be signed between the State Government and Posco by end of August after the document gets Chief Minister’s approval.
Meanwhile, Posco India was asked to start Corporate Social Responsibility (CSR) activities in the proposed plant site area. Posco officials and IDCO officials will have a meeting soon to finalise the strategy for the CSR activities, said sources.