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Victory of Anti-Posco Struggle

People United Shall Always Be Victorious !

(Photo Courtesy : The Hindu)

Big news – at times – go completely unnoticed.

(Thanks to the mediatised times we are passing through)

And thus it did not appear surprising that the decision by Posco, the South Korean steelmaker, the fourth biggest in the world, to exit the proposed 12 million-tonnes a year steel plant in Odisha did not cause much flutter. Yes, newspapers duly reported POSCO India’s ‘request to the Odisha government to take back the land provided to it near Paradip’ where it was supposed to invest 52,000 crore Rs.’ The letter stated company’s ‘failure to start work on the proposed plant’.

Perhaps none from the media wanted to showcase a negative example which is at variance with the efforts by the powers that be to project the idea of ‘ease of doing business’ here. Undoubtedly at a time when the government is keen to attract foreign capital and inducing it in very many ways, the way in which a Corporate Major – supposed to be one of the leading in the steel sector – had to exit from its project can easily shake their confidence about investing here. Continue reading Victory of Anti-Posco Struggle