South Korean POSCO's $12 billion steel mill project in India could be cleared soon

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after a panel investigating a breach of law in acquiring land for the plant submits its report on August 16, a top official said on Monday.

Optimism for the project, now delayed by over three years, has risen, given that its progress is being monitored by the prime minister's office as a test case reflecting the country's investment climate. "POSCO is not as big a problem (as some other projects awaiting clearance)," the federal official, part of a decision-making process, said.

"We expect the 4-member committee's report to be submitted on August 16 after which a decision will be formally announced," the official who did not want to be identified, said.