SAIL has ruled out the possibility of setting up of a plant through a joint venture with world’s largest steel maker ArcelorMittal. On Tuesday, ArcelorMittal Group Management Board Member Mr. Sudhir Maheshwari had said during a conference call that they have made “a proposal to SAIL and are in discussion with SAIL (to set up a steel plant through joint venture).” Early this year, ArcelorMittal had proposed to join hands with Steel Authority of India Ltd (SAIL) and was looking at partnering with steel PSU for proposed plant at Sindri in Jharkhand.
Two other global companies, South Korea-based Posco and Japanese Kobe Steel, had also expressed keenness for partnership with SAIL. Posco had entered into a technical pact with SAIL in 2007 and is also working on opportunities for the past one year to se t up Rs 11,000-crore steel plant jointly with the Indian company.
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Company Name | CMP |
---|---|
JSW Steel | 913.65 |
Tata Steel | 174.25 |
SAIL | 166.20 |
Jindal Stainless | 805.40 |
Jindal Saw | 555.15 |
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