Joint Venture for Automotive Steel Business
India has a crude capacity of 128.28 million tonnes for steel production as on March, 2017. The Board of Directors of SAIL has approved the proposal for signing of a Term Sheet with Arcelor Mittal S.A. for entering into a Joint Venture for Automotive Steel Business. The proposed JV will construct a state-of-the-art cold rolling mill with a capacity of about 1.5 mtpa and other downstream finishing facilities in India offering technologically advanced steel products for automotive sector.
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First Published: Dec 28 2017 | 10:55 AM IST