South Korean steel company Posco welcomed the Friday’s judgement by the Supreme Court regarding recommendation of Prospecting licence (Pl) in favour of the company.
Setting aside the judgement of the Odisha High Court, which had quashed the State Government’s recommendation for mineral prospecting licence (Pl) for Khandadhar iron ore mine in favour of Posco, the Supreme Court on Friday asked the Central Government to take a decision on the issue.
Srupeme Court Justice RM lodha also directed the Centre to consider other applications for the Khandadhar mine and to consider all objections raised by various parties against allotment of the mineral Pl for the Posco project.
Speaking on the court verdict, Chairman-cum-Managing Director of Posco India YW Yoon said it would significantly help expedite the project. “We are happy that it has come at a time when there has been a significant progress on the land clearance work for the project,” Yoon added.