Quirk of nearly eight years - Hawali after the South Korean company Posco project in Orissa that occur in the environment on behalf of the Government of India has been cleared . After taking the responsibility of the Ministry of Environment and Forests Veerappa Moily is the first significant decision .
Posco 's environment ministry approved last week . However , with certain conditions have been approved cost of the project will be risen substantially . But the company told from rapid implementation will start soon on the steel project . The project cost more than $ 12.5 billion in India 's biggest foreign direct investment [ FDI ] is proposed . Ever environmental issues, sometimes because of local opposition to the project stage is not here yet . In 2011 , the Ministry of Environment gave final approval , but was banned by the National Green Tribunal . In the past eight years the company has several times threatening to quit India .
The IOC would not be disinvested : Moily
Analysts say the central government approval despite some obstacles in the way of the project . A major problem identified by the company on behalf of the state government to transfer the land . In 2005, the Orissa government and Posco agreed between the total 4,004 acres of land had to be acquired . 2,700 acres for the first phase was to give the company on behalf of the State Government . 1,700 acres of land has yet been assigned . The company started working on it , but he is seeking promised land . With the general election just a few months in the state assembly elections are also due . The Naveen Patnaik government strictly for the sake of acquiring land would be very difficult to show .
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