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Orissa government has agreed with Posco India to allow swap of certain quantities of iron ore for production of better quality steel in its proposed 12 MTPA steel project near Paradip.
This was stated by Orissa Steel and Mines Minister Mr Raghunath Mohanty while replying to a question in the state assembly yesterday.
“The company may swap certain quantities (not exceeding 30 per cent of the requirement for the Paradip plant annually) of such iron ore which have high alumina content with equal quantity of low alumina content iorn ore of equivalent or better Fe content imported for blending in order to produce better steel in the Paradip project and conserve energy,” the minister said, quoting content of the MoU signed with Posco-India on June 22, 2005.
The minister said that state government was examining other factors associated with swapping of iron ore with the company.
The matters under state government’s examination were: the amount of foreign exchange to be spent on importing better quality iron ore, the country from which the raw material would come and the veracity of pollution to be created due to processing of such imported ore, MrMohanty said.
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