With the validity of the in-principle approval for Posco’s multi-product SEZ near Paradip ending on October 24, the company has sought the State Government’s no-objection for it, official sources said here.
“Kindly forward the no-objection/ recommendation at the earliest in support of our extension request to the Central Government so that the SEZ Board of Approval can consider our case in the forthcoming meeting,” Posco-India General Manager Hak Soo Kim said in a letter to the State Industries Department.
The Industries Department has asked the State Steel and Mines Department and the authorities of the State-owned Industrial Infrastructure Development Corporation of Odisha (IDCO) to immediately give their views on Posco’s request.
Seeking extension of its in-principle approval till October 2014, Kim said the company is not able to submit the required documents for a formal approval as it has not been handed over the full land. The State Government has so far handed over physical possession of 1,704 acres of land and transfer of another 1,000 acres is expected soon, he said.
“However, the land is not completely encroachment-free till date. The encroachment removal and compensation disbursement process is still on,” Kim said and requested the State Government to recommend its case early.
Posco’s multi-product specific SEZ is proposed over 4,004 acres of land in which the company, as the developer, would invest `3,023 crore. The project is proposed to handle 6,348,000 tonnes of finished steel product per year. It would provide employment for 48,000 people including 18,000 direct employment, sources said.