Deal #591

Location #1

Spatial accuracy level
Coordinates
Location
Jagatsinghpur, Odisha, India

Latitude
20.200346
Longitude
86.426697
Target country
India
Comment on location
Orissa, Jagatsinghpur, Ersamma Coordinates: 20.200346, 86.426697

Location #2

Spatial accuracy level
Administrative region
Location
Bhubaneshwar, Odisha, India

Target country
India

Land area

Intended size (in ha)
2438.0
Size under contract (leased or purchased area, in ha)
[2012] 222
[2014] 688
Comment on land area
"about 25 acres (10 ha) in Bhubaneswar for [company's] Indian headquarters; about 4,000 acres (1,600 ha) in the state of Odisha to set up a steel plant, build port infrastructure, establish a storage yard for coking coal, and other associated facilities; and, about 2000 acres of land for POSCO to develop a township, recreational activities and all related social infrastructure – of which approximately 1,500 acres (610 ha) would be identified adjacent/near to the Steel project and remaining 500 acres (200 ha) near the mining location" (http://en.wikipedia.org/wiki/POSCO_India )

Intention of investment

Intention of investment
Industry
Comment on intention of investment
Steel production and mining

Nature of the deal

Nature of the deal
Lease

Negotiation status

Negotiation status
[2005] Concluded (Oral Agreement)
Comment on negotiation status
MoU in 2005 The company asked for a  refund of Rs 11.21 crore out of the Rs 13. 52 crore it had paid towards acquisition of 438 acres of private land for the project, which was never acquired due to stiff opposition from the people of Dhinkia village, the epicentre of the movement against Posco.

Implementation status

Implementation status
[2014] Startup phase (no production)

Contract farming

Contract farming
No

Operating company

Operating company

 

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Data source #1

Data source type
Personal information
Includes in-country-verified information
Yes

Data source #2

Data source type
Research Paper / Policy Report
File
Date
2011-07-04

Data source #3

Data source type
Media report
File
Date
2012-10-18

Data source #4

Data source type
Media report
File
Date
2013-02-10

Data source #5

Data source type
Media report
File

Data source #6

Data source type
Media report
File
Date
2014-06-10

Data source #7

Data source type
Media report
File
Date
2014-01-16

Data source #8

Data source type
Media report
File
Date
2014-03-04

Data source #9

Data source type
Media report
File
Date
2015-04-27

Data source #10

Data source type
Media report
File
Publication title
It may be the end of the road for Posco in Odisha

Data source #11

Data source type
Media report
File

Names of communities / indigenous peoples affected

Comment on communities / indigenous peoples affected
Dhinkia village

How did the community react?

Community reaction
Rejection
Comment on community reaction
MoU in 2005 The company asked for a refund of Rs 11.21 crore out of the Rs 13. 52 crore it had paid towards acquisition of 438 acres of private land for the project, which was never acquired due to stiff opposition from the people of Dhinkia village, the epicentre of the movement against Posco.

Former land owner (not by constitution)

Former land owner
Community

Former land cover

Former land cover
Forest land

Detailed crop, animal and mineral information

Resources yield
Iron ore

Water extraction envisaged

Water extraction envisaged
Yes

Overall comment

Overall comment
Many villages destroyed and people displaced, Protest going on, Orissa state government has invited foreign and domestic investors in the context of an investment plan for mining and industry (2015) The deal is still active but under the threat of cancellation due to the disagreement between the parties

Feb. 17, 2020, 5:58 a.m.

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July 7, 2015, 8:45 p.m.

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July 10, 2014, 2:17 p.m.

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Aug. 15, 2013, 11:42 a.m.

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March 11, 2013, 1:39 p.m.

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Feb. 15, 2013, 5 p.m.

active

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