Asia Bizz: SAIL – Steel Authority of India To Joint Venture With Korea’s Posco

SAIL also very well know as Steel Authority of India have planned to joint venture with Korea’s Posco and are looking out to build a plant at Bokaro. The size of the plant will be around 3 million tonne. This venture is to be ready by the month of November.

Another similar type of venture would be expected with Japan’s Kobe Steel, but thats expected to take another two months to comment on it.

The Union Steel Minister Veerbhadra Singh said,

“While SAIL would like to have a majority partner in the venture with Posco, we are keeping an open mind on the equity aspect.”

SAIL is trying hard to have a string hold in other markets and they know very well to reach international markets and to have their presence felt outside of India, they would really have to notch up their technology, and therefore we see these steps taken by SAIL.