In 2005, I began following the POSCO (Pohang Steel Company) story closely. The legislation for setting up Special Economic Zones (SEZs) had been enacted the year before, and POSCO’s Memorandum of Understanding (MoU) with the government of Odisha was much in the news. It was lauded as the largest foreign direct investment in India and seen as a pet initiative not just of Odisha but also of the Prime Minister’s Office (PMO).
Much has transpired since then. Two of the several components listed in the MoU have been mired in legal tangles and faced stiff. . .
