India expects steel production
India expects a joint venture between state-owned Steel Authority of India Limited (SAIL) and Arcelor Mittal to start producing automotive-grade steel in two years. SAIL and ArcelorMittal, the world's largest steel producer, signed a preliminary agreement in May last year to expand in what is one of the world's fastest growing steel markets and a major car exporter. "In another two years it should be in the manufacturing stage, provided we freeze everything within one and a half months and in December we take off," Sharma said. "We will go more for import replacements. We have solutions for it." Said Arun Sharma, Steel Secretary.
Tags : ALLIED