SAIL-Arcelor JV eyes Gujarat and Maharashtra
The one billion dollar joint venture of state-owned Steel Authority of India and Arcelor Mittal is likely to be a private company with both partrners holding equity and stakes. The unit would come up in Gujarat or Maharashtra. Since the unit manufacture automotive steel, the Pune-Chakan belt in Maharashtra and Sanand in Gujarat are among the sites. The venture will sign a long term purchase agreement with SAIL’s Rourkela plant for sourcing hot rolled steel strips.
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