SAIL is likely to sign an agreement with Posco to jointly set
up plants in India by October 2010.
The JV is likely to invest about Rs 15,000 crore in various projects in
India. SAIL and Posco have already inked an MoU for jointly developing steel
plants in the country. SAIL is likely to offer Posco a majority stake in their proposed JV.
An integrated 1.5 million tpa steel plant is proposed to be developed at
Bokaro, Jharkhand, at an estimated investment of Rs 11,000 crore. In addition to
this, two steel mills - Cold Rolled Grain-Oriented (CRGO) and Cold Rolled Non
Oriented (CRNO) - to cater mainly to the electricity sector are to be set up,
one in Maharashtra and the other likely in Jharkhand.
Also See:
Fertiliser Ministry rejects SAIL's Sindri proposal (12-July-10)