POSCO to start work on giant Indian steel plant
Wednesday, 19 September 2007
BHUBANESWAR, India, Sept 18 (AFP): The protests have been loud and sometimes violent, but giant South Korean steelmaker POSCO is confident opposition will fade when work begins on its massive Indian plant next month.
After a lengthy stand-off with aggrieved local villagers, preparatory work will start on the 12-billion-dollar project in the eastern state of Orissa within weeks, a company spokesman told AFP.
Construction will begin early next year and the first phase of manufacturing in 2011, bringing thousands of jobs for local people, he said.
The project represents India's largest foreign direct investment, dwarfing the 2.9-billion-dollar Enron power plant in Maharashtra.
"The morale of the company is high. Once activities start, the rest of the villages opposing the project will also come around," company spokesman Shashanka Pattnaik told AFP over the weekend.
After a lengthy stand-off with aggrieved local villagers, preparatory work will start on the 12-billion-dollar project in the eastern state of Orissa within weeks, a company spokesman told AFP.
Construction will begin early next year and the first phase of manufacturing in 2011, bringing thousands of jobs for local people, he said.
The project represents India's largest foreign direct investment, dwarfing the 2.9-billion-dollar Enron power plant in Maharashtra.
"The morale of the company is high. Once activities start, the rest of the villages opposing the project will also come around," company spokesman Shashanka Pattnaik told AFP over the weekend.