ArcelorMittal, SAIL to team up for setting up plant in Rourkela – Feedback

ArcelorMittal and Steel Authority of India (SAIL) will enter into a 50:50 joint venture agreement for setting up a Rs 5,000 crore facility at Rourkela, Odisha, to manufacture high-end products for the nation’s automotive sector.

The joint venture agreement is expected to be finalised on 20 October, 2016, while the size of the plant is expected to be 1.2 million tonne units. The joint venture will be operational by December 2016. ArcelorMittal and SAIL had signed a memorandum of understanding (MoU) on 22 May, 2015, to set up the facility at Rourkela.

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