Ad Here  
March
April
May
June
July
August
 
 
An industrious idea ODISHA Enticing pest traps A year of Telangana Industrial corridors to boost economy KNPP with the grid Development depends on land availability... State of the States Miners asked to pay more Leaky old lorries, mini cabs for techies... Nod to cow slaughter bill Illegal mining of sand States - Odisha States - Kerala Thalaivaa KTR releases Annual Report Land acquisition policy is ahead of national policy... All these happened in TN… TN can leverage NLC’s strengths... Divide & Prosper Come to Tamil Nadu where the action is... Global Investors Meet Post Poned Strike over salary hike Reducing carbon footprint... Info-Park, more space It indeed is attractive for investments Green crimes galore City of foaming lakes and fire Bifurcation yet to end water wars Competing for good: Tale of two states AP in better shape Launch of ins vikrant, India’s first indigenous aircraft carrier Bhubaneswar IIT cries for completion Doubling production and tripling farmers’ income... Wouldn’t the Mahatma like clean restrooms in our cities! A giant push for millets State Forward ‘E’ for enterprise Stirring the political cauldron Power for all CII to set up tourism bureaus Land scams rock AP & TS A blueprint for the future Oh, la la. Tasks for the new government Homestays, a budding tourism industry MCL has a taste of judicial activism! TN to suffer serious loss With agriculture at its heart... Bringing magic of Rajasthan alive It’s Karnataka chalo for Amit Shah? Pioneering education model Waste disposal model Deputy Collector Sindhu! A neta at it again! State under siege Monsoon fury SIPB clears big proposals MOUs worth Rs.10.54 lakh crore signed Flurry of collaborations inked by AP Inter-State boundary Kochi Metro Rail Project More government apps Vedanta to close Lanjigarh refinery Infrastructure to the FORE Of development and welfare Why the Congress won in Karnataka Municipal Elections Time to wake up Fanciful Rao and tech-savvy Naidu Lingayats get a reminder: it’s poll time Technology has raised the bar... When business flocks to MP... States Roundup Bus services hit Global meets galore Mango Diplomacy KCR’s I-day bonanza Winds of change... Promise of a productive year Benevolent businessthan... Hype on Hyperloop Enchanting and enterprising Tamil Nadu Infra boost to the new capital TN to suffer serious loss
 
States - Odisha

The curious case of POSCO

In May 2013 the Supreme Court set aside a decision of Odisha High Court that had annulled a recommendation for preferential allotment of iron ore mines in favour of the South Korean steelmaker POSCO. The apex court has directed the Central government to study the issue of giving iron ore mining licence to POSCO on the basis of the recommendation of the state government take a final call.

POSCO is the fourth-largest steel producer in the world and since the signing of the MOU in 2005 has waited eight long years to get necessary clearances for land and an iron ore mining licence to start work on the 12 million tonne per annum capacity plant in Odisha.

Now that land acquisition is nearing completion, renewal of the MoU by the state government and a speedy disposal of POSCO issue by the Centre would send the right message to the international investors. Dr. Manmohan Singh tried to intervene personally and speed up the process in the past and now it’s a wonderful opportunity for the PMO to straighten the record of centre-state relationship by expeditious resolution of POSCO case. Hope the calm, cool and collected Sardar is listening!

The Special Economic Zones of Vedanta Aluminium Ltd (VAL) at Jharsuguda and the Infovalley IT SEZ, on the outskirts of Bhubaneswar are seeking extension of their status and are likely to receive the necessary nod. Infovalley, spread over 600 acres of land, is developed jointly by IDCO and IT major, Infosys, who have been allotted 45 acres of land. As per the estimates of the state IT department the Infovalley project is set to attract investments worth Rs 4000 crore.

 

OPL-II, successfully conducted

In May Odisha Cricket Association (OCA) successfully conducted the second edition of Odisha Premier League (OPL) T20 matches. The first edition in 2011 was a success yet mostly due to vigilance and income tax raids the franchise owners backed off last year and the show could not continue.  This year OCA decided to revive the process by putting its own money. OCA set aside Rs 2 crore to stage the popular league. Going by the response it received, it has been a moderate  success.

Moneywise OPL is still a humble pie! Men of matches pocketed Rs 5000 each and the man of the tournament Rs 25,000. The winner team got prize money of Rs 3 lakh, the runner-up Rs two lakh and the third placed team Rs 1 lakh. Compared to the money spent on IPL these are small changes. Let’s hope OPL would also rise to its rightful height, someday!

 

Coal shortage forces NALCO to slowdown

National Aluminum Company (Nalco) has a daily operating requirement of about 16,000 tonnes of coal. Now the supply has come down to 10,000 due to disruptions in supply from Bharatpur mine in Odisha. The death of a casual worker has alarmed the authorities and now they have closed down that mine since 21 April 2013.  This along with the falling price of aluminum in the global market forced Nalco to shut 200 of its 823 pots.

    Last year, Nalco, India’s  third largest aluminum maker, produced 403,000 tonnes of aluminum in its sole smelter at Angul in Odisha. The company expects to bridge the fall in output this quarter by ramping up production in the remaining quarters.

    Odisha has about a quarter of proven deposits in India. Populist measures have kept global mining majors miles away from these deposits and such avoidable accidents keep on happening with striking regularity. Such policy paralysis force poor laborers to work in unhygienic and dangerous conditions under the mining mafia and that in turn results in sub-optimal exploitation of natural resources and poor value addition. That coupled with the situation at hand with Nalco reminds us of the famous lines of the Ancient mariner: Water, water, everywhere, not a drop to drink. ...

 

Extension of 2 SEZs on the cards

The Special Economic Zones of Vedanta Aluminium Ltd (VAL) at Jharsuguda and the Infovalley IT SEZ, on the outskirts of Bhubaneswar are seeking extension of their status and are likely to receive the necessary nod. Infovalley, spread over 600 acres of land, is developed jointly by IDCO and IT major, Infosys, who have been allotted

45 acres of land. As per the estimates of the state IT department the Infovalley project is set to attract investments worth Rs 4000 crore.

Author :
Reported On :
Sector :
RELATED NEWS
ABOUT IE
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
 
PRIVACY POLICY
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
TERMS AND CONDITIONS
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
 
CONTACT US
S-15, Industrial Estate,
Guindy,
Chennai - 600 032.
PHONE: +91 44 22501236
EMAIL: indecom1968@gmail.com