Reportedly, Indian Orissa state government decided to sign a memorandum of understanding (MOU) with South Korean Posco as the land purchase issue for the company’s Orissa steel plant project has been recovered gradually.

Orissa state government indicated that they would have a meeting with Posco to sign the MOU and discuss some important issues such as exchange of iron ore, water resources and job opportunity, etc.

In fact, the both sides had ever signed the MOU on June 22nd, 2005. However, as Posco didn’t purchased any lands in the state in the following five years, the MOU expired on June 21st, 2010.