SAIL and ArcelorMittal to ink MoU for auto-grade steel plant – Feedback

Steel Authority of India (SAIL) and ArcelorMittal will enter into a memorandum of understanding (MoU) to form a joint venture (JV) to set up an auto-grade steel plant.

JV is almost finalised and will be signed within few days. It will be formed to set up a 1.5 million tpa capacity steel plant at an estimated cost of Rs 5,000 crore, which will manufacture high-end steel to be used in car manufacturing.
Both the companies entered into the MoU in May 2015 to explore the possibility of setting up an auto-grade steel manufacturing facility under a JV in India.

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