|
|
| |
|
|
Consensus on SAIL ArcelorMittal auto steel JV likely in two months - Niti Aayog-The 19th Guangzhou Die-casting, Foundry & Industry Furnace Exhibition
8/8/2017 Die-casting expo-foundry expo |
--------------------------------------------------------------------------------------------------------------- |
|
PTI reported that a consensus on signing of the joint venture deal between Steel Authority of India and ArcelorMittal for an auto-grade steel plant is likely in two months at the instance of think tank Niti Aayog. An official said ¡°A consensus on signing of the joint venture may be reached in two months.¡±
He told ¡°Almost a month ago, a meeting was called by Niti Aayog wherein both companies were asked to firm up their JV agreement. Both the companies had issues, including pricing mechanism for raw material.¡±
SAIL had sought help from Niti Aayog to resolve differences with ArcelorMittal over setting up of INR 5,000 crore steel plant.
SAIL and ArcelorMittal had in May 2015 entered into a memorandum of understanding to explore the possibility of setting up an auto-grade steel manufacturing facility under a JV in India. The JV will also focus on producing specialised grade steel products for defence, space and automobiles. It will construct a cold rolling mill and other downstream finishing facilities in India, touted as one of the fastest-growing automotive markets in the world with production expected to double between 2014 and 2020, from 3.6 million units to 7.3 million units.
-The
19th Guangzhou Die-casting, Foundry & Industry Furnace Exhibition
|
|
|
|
|
