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As JV talks with ArcelorMittal face delay, SAIL starts looking for options

Updated : June 03, 2019 07:24 AM IST

SAIL is already in talks with a few global companies which are into auto-grade steel making, Steel Authority of India Ltd (SAIL) chairman Anil Kumar Chaudhary said.
The country's largest steel maker and Luxembourg-based ArcelorMittal had entered into an MoU in May 2015 to explore the possibility of setting up an auto-grade steel manufacturing facility under a joint venture in India.
About two and a half years later in December 2017, the SAIL board approved the proposal to enter into a joint venture with the world's largest steelmaker ArcelorMittal for manufacturing high-end automotive steel.
As JV talks with ArcelorMittal face delay, SAIL starts looking for options

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