SAIL is likely to offer up to 74 per cent equity to POSCO in the proposed Rs
11,000-crore plant that the two will be setting up jointly in Jharkhand.
A sub-committee of SAIL's board in March 2010 cleared the JV proposal, for
setting up the plant on a piece of land at Bokaro Steel Plant (BSP). It has
recommended POSCO's claim to 74 percent equity in the private JV company. POSCO
has claimed the stake on the basis of its patented FINEX technology and funding
by South Korea Government to develop the same,
The proposed 1.5-million tpa plant in Jharkhand using POSCO's technology may
come on a site that was originally meant for
BSP's new melting shop. The new JV project is likely to be operated on iron
ore fines of SAIL which is largely unutilised.
Also See:
POSCO
keen to set up plant with SAIL (11-February-10)