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Prafulla Das

Bhubaneswar , May 27

THE Orissa Chief Minister, Mr Naveen Patnaik, on Friday said that his Government will soon sign a memorandum of understanding with the South Korean steel major, Pohang Steel Company (Posco), for setting up a 12-million-tonne capacity integrated steel plant in the State.

Talking to presspersons after a meeting with the Posco President, Mr Chang Ho Kang, at the State Secretariat here this evening, Mr Patnaik said the talks had moved forward and the MoU will be signed soon.

On export of iron ore, Mr Kang said the company would export an amount of ore, while importing an equal quantity ore for better efficiency.

"We are not going to export any ore. But we feel that, to bring efficiency, it will be inevitable to import equivalent tonnage of ore from overseas," Mr Kang said.

Posco has faced stiff opposition from certain quarters, including the Left parties, over its proposal to export iron ore.

The General Secretary of the Communist Party of India (Marxist), Mr Prakash Karat, on Thursday strongly opposed any export of in ore by Posco. "No export of ore by Posco should be allowed at any cost," Mr Karat told presspersons during his visit to Bhubaneswar.

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