SAIL-Arcelor Mittal JV approved
JV to build automotive steel plant
The Board of Directors of SAIL has approved the group’s joint venture for cold rolling mill with Arcelor Mittal, said the Minister of State for Steel Vishnu Deo Sai has told Rajya Sabha 27 Dec 2017.
SAIL will sign a Term Sheet with Arcelor Mittal for Automotive Steel Business.
The proposed JV will construct a state-of-the-art cold rolling mill with a capacity of about 1.5 mtpa and other downstream finishing facilities in India.
It will be offering technologically advanced steel products for automotive sector. fii-news.com