Mining co has stalled work on its $12-B Steel Plant, delayed by over nine years, till major clearances are approved

Ten years ago, soon after the Congressled UPA came to power, Posco announced a $12 billion steel project in Odisha. It was, and remains, India’s largest foreign direct investment (FDI) proposal. A decade and two UPA terms later, the South Korean company is still struggling with clearances despite Prime Minister Manmohan Singh’s assurances on expediting approvals in January.