POSCO a lot of controversy

Comments Off on POSCO a lot of controversy 146

At U-S Dollars twelve billion, the POSCO (POSH-KO) project is the largest foreign direct investment in India. According to the M-O-U signed between the company and state government, the plant will produce twelve million tonnes of steel per year and hire about forty-eight-thousand people. But the project has attracted a lot of controversy over its social and environmental cost. The project will require at least four-thousand-and-four acres of land, which would mean displacing thousands of villagers, most of whom are tribals. The plant will also generate four-hundred kilos of solid waste for each tonne of steel and use up one trillion cubic metres of water, not to mention laying waste to the nearby mangrove ecosystem. POSCO has already acquired one-thousand-one-hundred-and-thirty-five acres of land in the face of a stiff local opposition. However, the debate over the project’s stated economic gains and its projected social and environmental cost refuses to die down. Subhra Kanti Gupta visited the area to survey the situation on the ground

Similar articles