Posco’s Indian Steel Project in Doubt After Report
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Posco’s proposed $12 billion steel plant in India is in doubt after a government panel recommended scrapping environment clearances given to the world’s third-largest steelmaker.
Three of the four members of the panel suggested that approvals should be canceled because of “flaws in the studies, and shortcomings in the clearances granted” to the project in the eastern state of Orissa, Environment Minister Jairam Ramesh told reporters yesterday in New Delhi. A separate report by Meena Gupta, the head of the panel, asked for conditions to be added to the existing clearances, he said.