New Delhi: South Korean steel major Posco and Vedanta Aluminium have sought more time from the Centre to implement their respective Special Economic Zones (SEZs) in Odisha.
According to sources, the requests will be taken into consideration in an inter-ministerial Board of Approval (BoA) meeting, headed by Commerce Secretary Rahul Khullar, which will be held tomorrow.
While Posco has not been able to proceed with its project as it is yet to get adequate land from the State Government, Vedanta Aluminium has some issues related with the captive power plant that has to be resolved with the State Government.
It is noteworthy to mention that Posco’s subsidiary Posco India Pvt Ltd had received in-principle approval from the BoA for setting up the Special Economic Zone (SEZ) at Jagatsinghpur which was valid till October 2011.
Similarly Vedanta Aluminium’s SEZ was notified in 2007 for setting up of a zone for manufacture and export of aluminum in Odisha and the extension was granted till May 2010.