Gagan

581 views

Published on

ppt on vedanta's dispute

0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
581
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
14
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

Gagan

  1. 1. Govt. policies (good or bad ) with reference to cairn india, vedanta mining project and posco<br />Presented by:<br />Gaganhanda<br />MBA 2(a ) <br />
  2. 2. Introduction <br />Posco , South Korean company.<br />Vedanta, London stock exchange listed, involved in aluminum extraction, iron ore, copper & commercial energy.<br />Cairn india , Bill Gammell. <br /> Vedanta group CEO is Indian billionaire Anil Aggrawal.<br />Cairn India operates in Barmer, Rajasthan.<br />
  3. 3. Cont.<br />Posco signed MOU with Orissa Govt. in June 2005 for 12 MT capacity steel plant.<br /> It is largest FDI in india.<br />In 28th Feb. Vedanta Resources & Orissa Govt. <br /> intended on converting 660.749 ha of land into Bauxite mine in Niyamgiri.<br />Posco 54000 cr. steel project.<br />Vedanta $1.7 bn project.<br />
  4. 4. Violation of the law<br />Environment ministry blocked the project because it was violating Environment Act & Forest right act.<br />Producing 6mt/year instead of 1 mt/year without getting permission.<br />Illegally captured 26 acres of forest land.<br />Vedanta refinery sourcing bauxite from 14 mines out of which 11 don’t have environment clearance.<br />
  5. 5. State Government’s Response<br />FRA does not apply to the land identified for Posco.<br />No any tribal family nor any OTFD resides for last 75 years.<br />
  6. 6. Central Government’s Policies<br />Committee headed by N.C. Saxena condemned both the company and Orissa govt.<br />On 24th Aug , the environment ministry rejected the forest clearance for mining in Niyamgiri hills.<br />Navin Patnaik met PM, Union minister of states.<br />Central govt. said that the MNC’s have to play with the rules.<br />UK based Vedanta group has been blocked.<br />
  7. 7. Cont…<br />Problem of Posco is different from Vedanta. <br />Posco could be given permission for its steel mill in 2 months.<br />
  8. 8. Cairn India and Posco<br />Vedanta wants to buy out 60% share in cairn india.<br />Of this 40%-51% will be buy out by vedanta .<br />20% open offer, Sesa Goa.<br />$9.6bl buy out.<br />$ 6.5 bn debt from standard Charted Bank.<br />Partner with ONGC.<br />ONGC is against Vedanta to enter in the oil sector.<br />
  9. 9. Conclusion <br />Govt. should not allow industries to trample on citizen rights.<br />India has been target destination due to cheap labour and huge market.<br />It should be taken care of that ONGC pays only 30% royalty instead of 100%.<br />

×