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president park geun-hye is in new delhi for bilateral talks with indian prime minister
manmohan singh on this thursday. during her stay in india... there is expected
to be some progress in stalled projects spear headed by korean companies in particular a
steel mill launched by posco that has been delayed for nine years.
our presidential office correspondent eoh jin-joo who is traveling with the president
filed this report from india. posco's stal led project to build a steel mill in the indian
state of odisha looks like it's finally back on track... coinciding with president park
's state visit to india. the korean steel giant was granted an environmental
clearance for the 27-hundred acres of land required for the project... and has secured
a promise from the odisha state government that the korean steelmaker will be granted
a prospecting license for an iron ore mine some 300 kilometers from the steel mill.
the details will be confirmed during president park's bilateral talks with indian prime minister
manmohan singh on thursday. the project was launched in 2005... but has
been delayed for roughly nine years due to land acquisition issues and environmental
concerns.
the korean government says that if the project goes forward as planned the steel mill in
odisha will be able to start producing steel in eight years which is in 2022.
it also expects the posco project to create some 870-thousand jobs and generate annual
sales of 3 billion dollars.
president park who arrived in the indian capital of new delhi on wednesday... started her trip
by meeting with korean residents living in the south asian country.
the president said... there are a lot of fields in which korea and india can create synergy
through cooperation... as the two countries each have a unique cultural heritage and are
leading nations in advanced science and technology .
in particular... she emphasized the importance of the korean community in india.
you should play the main role in expanding cooperation between korea and india. you should
also enjoy the fruits of such development s more than anyone else.
president park also pledged to seek greater opportunities for korean businesses in india
and reduce the difficulties korean firms face when doing business in the nation by calling
on the indian government to reduce the restraint s on foreign investment.
eoh jin-joo arirang news new delhi.