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ArcelorMittal to make auto steel in India in 3 years as car output booms: official

Reuters  |  NEW DELHI 

By Krishna N. DasNEW DELHI (Reuters) - India's state steel company will start producing automotive steel in a $1 billion partnership with ArcelorMittal in three years, a top government official said, helping cut imports of high-grade steel as the country revs up car manufacturing.Steel Authority of India Ltd has approved entering into a "non-binding" agreement of terms on the joint venture with the world's biggest maker of the alloy, the state steelmaker said in a statement on Wednesday, confirming a Reuters report from Dec. 7 on the impending approval. ( SAIL said a ...

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First Published: Fri, December 15 2017. 14:57 IST