Orissa, which has signed a deal with South Korea’s Pohang Steel Company (Posco) for a mega steel plant, has received more investment proposals from that country. Why? Because Posco could steal and get away legally right under the nose of Orissa government by blinding it with the glitter of 12 billion dollars. The Orissa-Posco deal turned out to be such a jackpot for the former that at the end, it looks as if the state has been shortchanged. It was a bad deal and economists, commies, newspapers, general public etc., came upon a common forum to oppose it. (For once, the Left was right).



‘The Seoul-headquartered Miju Steel Manufacturing Co Ltd has shown interest to set up an $80-million steel pipes plant in the state’, said a beaming Ho-Chan Ryu, Posco India’s senior general manager (external relations).



Let’s hope this time Orissa government will wear anti-glare glasses when reading the proposals before signing them.



News : Economic Times