Posco officials have said it was unlikely to build the plant without assured supply of iron oreBHUBANESWAR: The government has again delayed a decision on permitting Posco to mine iron ore, seeking more clarifications from Odisha where the South Korean company has waited nine years to set up a $12 billion steel plant. Former Prime Minister Manmohan Singh said in January Posco's request for a mining licence — the final regulatory hurdle for the project which would be the biggest foreign direct investment in India — was at an "advanced stage of processing".
But nine months on, little progress has been made on the ground. The company has yet to start work on the planned 12-million-tonnes-a-year plant due to stiff opposition to land acquisition and delays in securing permission to mine iron ore, a raw material for steel.
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