Steel Authority of India (SAIL) is in talks with Japan-based Kobe Steel for setting up a special steel venture. The special steel could be used in the defence sector or automobiles. Though, the investment, location and equity structure have yet not been decided.
Last year, SAIL had signed a Memorandum of Understanding (MoU) with Kobe for an iron nugget plant, using the Japanese steelmaker's ITmK3 technology, for a 0.5 million tonne pilot project. Further, SAIL is in discussion with Posco for a three million tonne steel plant at Bokaro in Jharkhand.
SAIL is India's largest steel producing company. With a turnover of Rs 49,350 crore, the company is among the five Maharatnas of the country's Central Public Sector Enterprises. SAIL has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.
