Moneycontrol
Last Updated : Jan 31, 2011 11:12 PM IST | Source: CNBC-TV18

POSCO order should not be read as a clearance: NAC

Member of the National Advisory Council or NAC, NC Saxena has said that the order should not be read as a clearance.


Korean steel giant POSCO has welcomed the conditional approval, which comes three years after the plant was first envisaged. It says it will maintain 25% of the area allocated for the steel plant as green cover.


As per the ministry's conditions, POSCO says it will earmark 2% of its net India profits for its corporate social responsibility drive. It will also work on creating sustainable livelihood options for people affected by the project. POSCO adds that it plans to ensure conservation of land and marine environment at the site.

However, member of the National Advisory Council or NAC, NC Saxena has said that the order should not be read as a clearance. Speaking to CNBC-TV18, Saxena said the Orissa government should recognise the rights of the people. The Orissa government

First Published on Jan 31, 2011 10:20 pm
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