Posco to set up world-class steel plant in Odisha: Yoon

Notwithstanding delays in the implementation of its Rs 52,000 crore project in Odisha, the South Korean steel major Posco today said the company is determined to establish a world class steel facility near Paradip.

"As all of you are aware, POSCO signed MoU with Government of Odisha in 2005 to set up a 12 MTPA integrated steel plant in Jagatsinghpur district. In the last 7 years we have faced some obstacles and delays," Posco India CMD Y W Yoon said, while awarding the POSCO Asia Fellowship on behalf of POSCO T J Park Foundation at BPUT and KIIT here.

"But we are still determined to move ahead and construct a world class steel facility for the benefit of all stakeholders," he said.

"POSCO will do its best efforts to construct a state-of- the-art steel plant in Odisha. And I expect to see you (Odisha engineers) working with us in upcoming days," Yoon said.

Like previous years, the POSCO TJ Park Foundation Scholarship has been awarded to meritorious students of BPUT (Biju Patnaik University of Technology) and KIIT (Kalinga Institute of Industrial Technology) University, in a special award ceremony organised here.

This time 10 students - five each from BPUT and KIIT University, received the prestigious scholarship that is being conferred every year to meritorious students since 2006 by POSCO T J Park Foundation.