Steel Authority of India Limited (SAIL) is exploring the possibilities of setting up joint ventures with Tata Steel and Arcelor-Mittal to manufacture steel.
Last year, SAIL had signed a MoU with Posco of Korea to set up a proposed joint venture
steel plant in Jharkhand with the production capacity of two million tonnes per annum and a CRMO (chromoly steel) plant in Maharashtra.
Speaking on the possible tie ups, SAIL chairman, Mr S.K. Roongta, said “Tata Steel and Arcelor-Mittal have separately expressed their willingness to associate with SAIL. It can be multiple JVs or we may have just one JV with any one of these companies. We are now in discussion with them and a joint working group has been set up to take this forward.”
When asked about the possible locations for setting up one or multiple JV plants, he said, “The JV is still in the initial stage. We will take a decision on this shortly.”