POSCO to set up CSR foundation in Orissa

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In a bid to get closer to the people, the South Korean steel major POSCO announced to set up a foundation to carry out CSR activities for its Orissa project.

Mr Joon Yang Chung CEO of POSCO group after meeting Mr Naveen Patnaik CM of Orissa said that the proposed foundation to be named as POSCO Foundation will take up vocational training, health services and feeding program for the poor children in both the steel plant and mining sites among others.

He added that “It will be a win win situation both for the company and the local people.”

Describing his discussion with Mr Patnaik as very fruitful, he said that various measures aimed at expediting the Orissa project were discussed.

Mr Chung also stated that POSCO will appoint the best consultant in the country for Orissa steel project. On the issue of land acquisition, he said, the Orissa government is making all efforts and the company will support the state government in its endeavor.

Sources said that various aspects of the project like forest clearance and mining issues also figured during the discussion.

(Sourced from Business Standards)

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