SAIL forms JV with Japanese Kobe Steel

In a bid to manufacture 500,000 tonne iron nuggets in a year at Durgapur plant in West Bengal, Steel Authority of India (SAIL) formed joint venture with Japanese Kobe Steel. SAIL-Kobe Iron India, a 50:50 joint venture company has been incorporated on May 25.

Further the JV, for producing iron nuggets, will use Iron Making Technology Mark-3 (ITmk3) and the technology would be provided by Kobe Steel.

Earlier in November 2010, SAIL-Kobe had signed a Memorandum of Understanding (MoU) for establishing a 1.2 mtpa gas-based steel plant to produce steel for the auto sector.