(a) whether the Korean Company POSCO has submitted any application
for FDI to the Union Government in connection with its proposed
investment in Orissa;
(b) if so, the details thereof; and
(c) the size of equity participation in the proposed company?
Minister of State in the Ministry of Finance ( S.S. Palanimanickam )
(a) to (c) : No application has been received by the Union
Government from the Korean company POSCO for the proposed Foreign
Direct Investment in Orissa. However, a Memorandum of
Undertaking (MoU) has been signed between Government of Orissa
and Pohang Steel Company (POSCO) of South Korea on 22.6.2005 for
setting up a 12 million tonnes steel plant at Paradeep with a
proposed investment of around US $ 12 billion.