POSCO: Villagers Demand 5% of Share in Company’s Profits

Some people in Orissa’s Jagatsinghpur district, in a complete turnaround from their earlier stand, agreed to give up land for the POSCO steel plant on January 5, but with conditions. They have asked for a 5 per cent share in the profits of the company, among other demands.

In another development, the Central Empowered Committee, which advises the supreme court on forest-related cases, recommended that mines, steel plant and captive port— POSCO’s proposed projects—should be considered as one and reviewed in entirety for its ecological significance and rehabilitation plans rather than as three different projects. POSCO filed an affidavit in the apex court on January 4, contesting the recommendations and asking for separate clearances for its three “separate’ projects. The case will come up for hearing in the third week of January. Continue reading »

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End of the road for Bangalore?

Bangalore Municipal Corporation’s road projects have hit a dead end due to non-availability of funds. The corporation had applied for Rs 7,536 crore for flyovers and grade-separator projects under the Jawaharlal Nehru National Urban Renewal Mission (jnnurm).

“Our city development plan had many road projects because the public expressed the need for them. We haven’t received the second instalment for a lot of projects and Rs 105 crore for developing 170 km of arterial and sub-arterial roads have still not been released. We haven’t even got an official response,’

says J Manjunath of the Bruhat Bangalore Mahanagar Palike. Continue reading »

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