South Koreansteelmaker POSCO willnot be able to set up a US$12 billion steel plant in Odisha by July 2017 asconstruction is yet to begin, Reuters wrote April 8.

POSCO's lawyer told Reutersafter a hearing in the National Green Tribunal that the company has not beenable to obtain forest and other clearances, while its environmental clearanceis valid until July 2017 only.

Regulatory hurdles have pushed back the project,billed as India's biggest foreign direct investment, for more than a decade.