(PTI)
In December 2017, SAIL board had approved a proposal to enter into a JV with ArcelorMittal for manufacturing high-end automotive steel.SAIL is awaiting a response from ArcelorMittal regarding setting up a joint high-end automotive steel plant in India for which its board had given the go-ahead about two years ago, a top company official of the state-run steel major said.
SAIL chairman A K Chaudhary said this while replying to a question related to the progress in talks with ArcelorMittal for setting up a joint venture (JV). In December 2017, Steel Authority of India Ltd (SAIL) board had approved a proposal to enter into a JV with global steel giant ArcelorMittal for manufacturing high-end automotive steel. The definitive agreement in this regard, the company had said, will be finalised in due course subject to financial viability.
