Steel Authority of India (SAIL) and ArcelorMittal will sign a memorandum of understanding (MoU) for forming a joint venture (JV) to set up a 1.5 million tonne per annum (MTPA) auto-grade steel plant. The said plant would produce high-end steel which would be used in car manufacturing.
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.
