SAIL eyes ArcelorMittal response to take JV plans forward
25th Nov 2019

Steel Authority of India (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 a go-ahead about two years ago.

In December 2017, SAIL’s board had approved a proposal to enter into a  Joint Venture (JV) with global steel giant ArcelorMittal for manufacturing high-end automotive steel. The definitive agreement in this regard, will be finalised in due course subject to financial viability.

SAIL is India’s largest steel producing company. The company is among the five Maharatnas of the country’s Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.