New Delhi:
The fate of the POSCO's Rs 51,000 crore integrated steel plant project in Orissa may be decided today after the Forest Advisory Council takes a view on the split report submitted by a four member Central panel headed by former Union Environment Secretary Meena Gupta.
The panel was to examine whether Central Acts were violated by the project. The South Korean project, the biggest Foreign Direct Investment(FDI) in India has failed to take off in the last five years due to a number of reasons including stiff opposition by the local people who refused to part with their land .
A final decision will be taken by the Environment Minister Jairam Ramesh.
While, three members of the Central panel have sought the cancellation of environment clearance granted to the proposed POSCO steel plant and captive port for illegalities and serious violations of the Forest Rights Act and Environmental laws, Gupta has opposed the idea of revoking the clearance, and suggested the company be asked to take corrective measures.
The recommendations of the Forest Advisory Council would weigh heavily on Jairam Ramesh who would take a final call in the matter. However, POSCO also faces other serious challenges including grant of mining lease and renewal of its MoU with Orissa government which has expired in June this year.