By IANS
Bhubaneswar : Posco-India, a subsidiary of South Korea steel major Posco, Saturday announced merit scholarships for students from poor families that are being displaced due to its construction activities.
On Friday, the company’s TJ Park Foundation, a non-profit welfare organisation awarded merit scholarships to 29 students from various educational institutions in Orissa. The foundation is funded and supported by Posco.
Thirty-five more students have been selected for the scholarship on a priority basis, which will be handed over to them later on. All these children are from the economically backward families, the company said in a statement.
The scholarships of $500 each and renewable annually were from the state’s leading universities such as Utkal University, Kalinga Institute of Industrial Technology and Biju Patnaik University of Technology.
Posco had signed a memorandum of understanding (MoU) with the government in June 2005 to set up a $12 billion steel plant near Paradip in Jagatsinghpur District.
There has been no significant progress on the project since then, due to opposition by the locals.