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POSCO-India opens new office in Orissa

Bhubaneswar, Aug 30 (IANS) POSCO-India, a subsidiary of South Korean steel major Posco, Wednesday opened a new office in Orissa to win the trust of the people who are opposing its proposed $12 billion plant, one of the largest foreign direct investments in India.

Wednesday, August 30, 2006 | 5:37:46 PM IST (+05:30 GMT)
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Bhubaneswar, Aug 30 (IANS) POSCO-India, a subsidiary of South Korean steel major Posco, Wednesday opened a new office in Orissa to win the trust of the people who are opposing its proposed $12 billion plant, one of the largest foreign direct investments in India.

Facing considerable opposition from residents of at least six villages including Dhinkia Nuagaon and Gadakujanga, the firm opened the new office at Kujanga, the block headquarters in Jagatsinghpur district, some 110 km from here.

The Indian subsidiary of the world's fourth largest steel manufacturer plans to set up the steel plant in the district by 2016. The new office is an attempt to get closer to the local population around the proposed site, the company said in a press release.

The office is completely dedicated to the rehabilitation and resettlement of the local population, it release said.

POSCO says the proposed plant aims to provide jobs to 13,000 people and indirect employment for 35,000 more. But locals, social activists and several political leaders have opposed the project saying it will ruin over 10,000 betel leaf farmers if they vacate their land for the plant.

Copyright : Indo-Asian News Service
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