Steel Authority of India (SAIL) is reportedly in preliminary talks with South Korean steel major Posco to set up an integrated steel plant. The steel maker’s proposed project in Odisha has been stalled for about a decade on account of regulatory hurdles, including delays in land acquisition.
With this project for producing 12 million tonne per annum (MTPA) steel stalled for long, Posco has been exploring other investment opportunities in India.
SAIL is India's largest steel producing company. The company is among the five Maharatnas of the country's Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.
