When the whole world is emphasising on ‘going green’ the Supreme Court has approved the project of Posco India Pvt Ltd.,a subsidiary of South Korean steel company POSCO to set up Rs 51,000-crore mega steel plant and captive minor port in Paradeep, Orissa.

The firm had signed an agreement with the Orissa government in 2005 .But,since this project involved the requisition of 1253.225 hectares of forest land which would result not only in severe deforestation but also in the eviction of the native tribals it created a stir among the tribal people and there was protest and agitation against this mega project.

According to reports,a special environmental bench headed by Chief Justice K G Balakrishnan gave the green signal to Posco to go ahead with its plans.It was ruled that 5 percent of the profit from the turnover of the company or 10 crore Indian rupees whichever is higher will be allotted for regaining ecological balance due to this heavy deforestation as well as for the rehabilitation of the evicted tribal people.A centrally empowered committee was appointed by the apex court to supervise the ecological aspect and to implement compensatory afforestation.

Reportedly the state government-owned Orissa Mining Corporation (OMC) had agreed to supply iron ore and other minerals for the project.

While this huge step towards industrialisation will open new avenues of development and employment,it will have a huge disturbing impact on the ecological balance.