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Stalemate on proposed SAIL-Posco, NMDC-Severstal JVs continues

However, Chairman of SAIL, NMDC positive about development

Differences on shareholding issue continue to come in the way of formation of two steel-making joint ventures--SAIL-Posco and NMDC-Severstal--involving over Rs 35,000 crore investment, as both the overseas firms are insisting on owning majority stakes in them. Though differences between the two domestic firms and the overseas entities over the issue has been on for quite some time now without signs of an early settlement, C S Verma, Chairman of both SAIL and NMDC, sees light at the end of the tunnel. "I won't say stalemate. The very fact that the dialogue is continuing and has not ...