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    POSCO asks for extension of in-principle nod for Orissa SEZ

    The Orissa government is likely to lease 1253 hectares of forest land to South Korean steel giant Posco's proposed special economic zone (SEZ) by the end of December this year.

    November 22, 2011 / 08:02 IST

    The Orissa government is likely to lease 1,253 hectares of forest land to South Korean steel giant Posco's proposed special economic zone (SEZ) by the end of December this year. The company stated this in an application related to extension of the in-principle approval of the SEZ that expired on October, 25.

    Posco also said in its application that the Orissa government has already leased 245 hectares of land to the SEZ. Posco is expected to pump in about USD 12 billion to this steel based SEZ.

    The Orissa government had leased the land to Posco SEZ on May 2, 2011. It said the Ministry of Environment and Forests (MoEF) has approved the diversion of forest land to the Korean company

    first published: Nov 21, 2011 09:59 pm

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