SAIL and ArcelorMittal had in May 2015 signed a MoU to explore the possibility of setting up a Rs5,000 crore auto-grade steel manufacturing facility under a joint venture in India. Photo: Pradeep Gaur/MintNew Delhi: A consensus on signing of the joint venture (JV) deal between Steel Authority of India (SAIL) and ArcelorMittal for an auto-grade steel plant is likely in two months at the instance of think tank Niti Aayog, an official said. SAIL, the country’s largest steelmaker, had sought help from Niti Aayog to resolve differences with ArcelorMittal over setting up of Rs5,000 crore steel plant. “A consensus on signing of the joint venture may be reached in two months,” the official said. The government had earlier said the proposed auto-grade steel plant would be set up close to an automobile hub.

Source: Mint August 06, 2017 08:48 UTC