Enviro Reversal Risks Posco's $12B India Project

An Environment Ministry panel found "serious lapses and illegalities" in the environmental clearance process and in obtaining consent from locals for Posco's long-delayed steel plant and port in the eastern state of Orissa.

Three of the four panel members in their majority opinion recommended that clearances obtained in 2007 and 2009 be revoked and a fresh assessment of the project's impact on local villagers and the environment be undertaken — more than five years after the state government and Posco signed the deal. Read the full report here.

Source: by Associated Press, TMCnet World News.