SAIL in talks with Nippon Steel, Kobe on plant operations

India's largest steel maker SAIL is in preliminary discussions with Japan's Nippon Steel & Sumitomo Metal Corp and Kobe Steel Ltd on various areas of operations with regard to steel plants.
"SAIL is in preliminary discussions with Nippon Steel & Sumitomo Metal Corp and Kobe Steel on various areas of operations of steel plants," a source said.
The source declined however to divulge further details but added that "the parties (SAIL, Nippon Steel & Sumitomo Metal Corp and Kobe Steel) will be looking at their individual strengths".
Domestic steel major SAIL had last month entered into a pact with South Korean giant Posco for technical collaboration for operational improvements.

"A MoU was signed on November 7, 2016, between Posco and SAIL on technical collaboration for operational improvements and Human Resource Development," it had said.
SAIL Chairman P K Singh had said that the MoU is an important milestone in SAIL-Posco's long standing relationship and in future the companies would be collaborating in many more areas.

The minister also pulled up SAIL for inability to ramp up
capacity and thereby failing to meet the demands from major customers terming it "unacceptable", the sources said.
Also, he warned RINL for not utilising their full capacities.
On ICVL (International Coal Ventures Ltd), Singh directed that no more time should be wasted in operationalising the coal assets including Mozambique mines that has not yet begun production.

ICVL is a join venture formed by five PSUs including SAIL, RINL and NMDC to scout assets abroad for securing raw material.
The minister also expressed unhappiness over delays in operationlising SAIL-ArcelorMittal joint venture besides delays in steel processing units saying henceforth complacency would not be tolerated.
On NMDC, he said the ministry was inundated with complaints about "differential iron ore pricing" and should be resolved soon.
He directed NMDC to develop more resources for a secure future.
NMDC is the country's top iron ore miner.
Also, the minister made it clear that performance of all PSUs will be assessed on monthly basis and no official will be allowed to sit over files keeping things pending.

Apart from the CMDs, Directors and CEOs from PSUs, those who attended the meeting held on Friday included key officials, include Steel Secretary Aruna Sharma and Additional Secretary and Financial Advisor, Steel Saraswati Prasad.