BT Retro ; Posco's project in Orissa is yet to get off the ground. Since 2008, its efforts to acquire 438 acres of private land, out of the total 4,004 acres approved for the project, have been mired in an unceasing cycle of local protests.

April 22, 2007

Posco is not leaving

Then: Will India have to bid adieu to Rs 52,000 crore? If Poscois indeed getting more despondent by the day on account of delays ingetting approvals for its proposed 12-million tonne steel plant inOrissa, that may well be the case. However, days after the reportedthreat of the world's fourth-largest steel maker to reviewinvestments in India, the South Korean steel giant appears to havechanged its mind. "Posco is very serious and committed about theOrissa project. We've already paid the money for 1,135 acres (of the4,004 acres needed), and as soon as possession is given we'll startwork," a Posco India spokesman told BT. …