South Korean steel giant Posco would begin construction of a captive port a year before actual work on its 12-million-tonne steel plant begins in 2009.
Seeking quick steps for removal of hurdles in land acquisition and mining lease, Posco-India CMD Soung-Sik Cho said that the company would start work for its captive port early next year, while construction of the proposed steel plant was expected only in 2009. Admitting that Posco-India was yet to be handed over a single piece of land out of the 4,004 acre required for the project near Paradip, demarcation of 193 acres of land was likely to take place by this month end.
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