Bhubaneswar, Sep 27 (PTI) The Odisha government has decided to allot land acquired for South Korean steel major Posco near Paradip to JSW Steel, which has proposed to set up a 10 million tonnes per annum (mtpa) green field steel plant at an investment of Rs 50,000 crore, a state minister said Thursday. Also Read - German State Finance Minister Commits Suicide Amid Fears of Financial Impact of Coronavirus Pandemic

Odisha Industries Minister Ananta Das told PTI that the state government has decided to allot the land to JSW steel. Also Read - Coronavirus: Total Positive Cases Climb to 1024, Death Toll Reaches 27, State Borders Sealed | Top Points

“Since Posco India has not been progressing with its proposed project, the government has decided to allot the land to JSW Steel which is interested to set up a mega steel plant,” Das said. Also Read - Amid Lockdown, Centre Sets up 11 High-level Panels to Suggest Measures For Ramping up Healthcare, Economy

The minister said JSW Steel in 2016 had submitted a proposal to the state government to set up a greenfield steel plant.

“As we have already acquired 2900 acre of land near Paradip, the state government will allot the land to the new company,” the minister said.

The JSW Steel has been told to deposit the money towards the acquisition of the land at the earliest, he said.

Earlier, Industries Secretary Sanjeev Chopra had said that they (JSW Steel) are now taking approvals from the Government of India for (environment) and forest clearance.

The state run IDCO (Odisha Industrial Infrastructure Development Corporation) had acquired the land for Posco-India.

However, the South Korean steel major did not proceed with its project mostly due to lack of mineral linkage to feed its proposed 12 mtpa steel mill.

This is published unedited from the PTI feed.