South Korean steelmaker Posco today told the National Green Tribunal (NGT) that it would not be able to set up a Rs 52,000 crore steel plant in Jagatsinghpur district of Odisha by July 2017. <br/><br/>The company informed to the Tribunal that due to regulatory hurdles, completion of the project will not be possible in such a short period of time. <br/><br/>It may be mentioned here that Posco company has not been able to obtain forest and other clearances while its environmental clearance is valid until July 2017. <br/><br/>In January, Union Minister of State for Finance Jayant Sinha had said Posco has to take final decision over its proposed steel project in Odisha and have to follow the rules and laws of the country to set up its project. <br/><br/>As per the amended Mines and Mineral (Development and Regulation) Act 2015, Posco has to bid for mines, if it wants to run the proposed steel plant at Jagatsinghpur in Odisha. <br/><br/>The South Korean steel company is yet to make its stand clear over the proposed steel project while the Odisha government has urged the Prime Minister's Office to resolve the impediments in the way of the project.