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Orissa’s POSCO project: fundamentally flawed and economically unviable says report by Mining Zone People’s Solidarity Group

20 October 2010

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A team of US-based researchers have released a report today claiming that the POSCO project in Orissa is fundamentally flawed and economically unviable, and that the company and the government of Orissa have deliberately misled the public by putting forth false data and numbers. Coming close on the heels of the divided report of the POSCO Enquiry Committee, where the majority of members held that the POSCO project is illegal, the new report, Iron and Steal: The POSCO-India Story (Backgrounder, Executive Summary), authored by the Mining Zone People’s Solidarity Group (MZPSG), goes a step further. It argues that apart from violations of law and procedure, the POSCO project has been justified based upon deeply flawed numbers with benefits exaggerated and costs purposefully minimized.

For an executive summary of the report ’Iron and Steal: The POSCO-India Story’ see: http://miningzone.org/campaigns/POSCO/