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POSCO report delayed
By Henry Foy |
November 11, 2010, Thursday
|
Print Edition
Print Edition
AN experts' panel has deferred by 10 days an environmental impact report into a US$12 billion steel plant project by South Korea's POSCO, further delaying India's biggest foreign direct investment, newspapers reported yesterday.
The delay means Prime Minister Manmohan Singh, who is monitoring the project, would fly to the Group of 20 meeting in South Korea yesterday without firm government commitment to the project.
The delay was reported by two newspapers, the Hindustan Times and The Times of India, without giving sources. The environment ministry was not immediately available for comment.
POSCO is among several companies that have come under scrutiny from Environment Minister Jairam Ramesh, whose tough approach has sparked criticism from businesses and even other members of the government pushing for rapid industrialization.
The panel recommendation, which is not binding but is required before Ramesh makes his final decision, was likely to be released this week.
The delay means Prime Minister Manmohan Singh, who is monitoring the project, would fly to the Group of 20 meeting in South Korea yesterday without firm government commitment to the project.
The delay was reported by two newspapers, the Hindustan Times and The Times of India, without giving sources. The environment ministry was not immediately available for comment.
POSCO is among several companies that have come under scrutiny from Environment Minister Jairam Ramesh, whose tough approach has sparked criticism from businesses and even other members of the government pushing for rapid industrialization.
The panel recommendation, which is not binding but is required before Ramesh makes his final decision, was likely to be released this week.
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