Steel Authority of India (SAIL) is all set to ink joint venture (JV) pact with KIOCL to up a three lakh tonne coke oven battery and a captive power plant in Karnataka. The facility, entailing investment of around Rs 450 crore, would be a win-win proposition for both SAIL and KIOCL, formerly known as Kudremukh Iron Ore Company.
The coke oven battery will help KIOCL to run its blast furnace viably on stand-alone basis and would act as a backward integration project, while SAIL’s Bhadrvati unit also needs coke.
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.
