Meanwhile, a consensus has been reached among the two parties over swapping of iron ore within or outside the country

The state government will sign a tripartite agreement with Posco and its Indian subsidiary Posco-India in late October or first week of November this year, which will replace the lapsed memorandum of understanding (MoU) signed with the company in June 2005.

Joon-gyu Lee, South Korea’s ambassador to India, on Monday said the foundation stone for Posco India’s 12-million-tonne steel project in Orissa is likely to be laid early next year. He added that the president of South Korea might do the honours.

“The state government has successfully completed land acquisition for the project. I hope everything will be ready for construction to begin,” he said.

Govt forwards Posco's fresh application for CRZ clearance for its steel plant discharge pipeline to nodal authority

The state government has initiated steps for revalidation of Coastal Regulation Zone (CRZ) clearance to the captive port of Posco. The clearance was given in May 2007.

Lack of iron ore linkages impeding steel projects in Odisha

The Union steel ministry is pursuing the case of revalidation of environment clearance for the Posco project with the ministry of environment & forests (MoEF) in a bid to help expedite construction work for the project.

New Delhi : The National Green Tribunal (NGT) on Monday ticked off the environment ministry for making a "mess" of granting forest clearance to industries, accusing it of keeping companies waiting

The National Green Tribunal today ticked off the environment ministry for making a “mess” of granting forest clearance to industries, accusing it of keeping companies waiting for at least two-three

Posco contended that forest clearance for its project was granted in 2009 while it has been challenged in 2013

The NGT, in its last hearing on August 12, had asked MoEF to take a decision on revalidation of green clearance for Posco by August 23