The South Korean steel giant, Posco is committed to complete Posco's Orissa project, despite global financial crisis. The director of Posco-India project, Mr Sung said that the global slowdown would not affect the project and company would go for Rs 51,000 crore projects in Orissa. He also reviewed the work of the project during a meeting called by the chief secretary Mr Ajit Tripathy.

The stage-1 of the forest land diversion proposal for the plant has been okayed after the intervention of Supreme Court and a special committee has also been formed to review the progress of project for its early completion. The company has been asked by the government to keep the environmental factors in mind, as forest clearance was the major issue during the selection of the project. The project site includes almost 3000 acres of forest land and government wants it to be preserved.

Posco project is worth Rs 51,000 crore investment in Orissa which is the biggest ever FDI in India. It is going at a slow pace due to the land related problems and delay in clearance of forest diversion proposal from the ministry of environment. The mega integrated steel plant project is already late by one year and the work on the project is now expected to speed up following all sort of assurance from the state and center government.