SAIL in talks with Japanese, Korean cos to produce CRGO, CRNO

Steel Authority of India is at advanced level of talks with 2-3 Japanese and Korean firms to produce value-added CRGO and CRNO steel , having a total of over USD 2.5 billion market, entirely met through imports now.

Production of these value-added varieties would enable SAIL to increase its margin and help the consumers get them at a cheaper rate since they would no longer have to rely on imports to manufacture transformers and others within India.

The current domestic market size for CRGO products would be USD 1.5-2 billion and the future growth is linked with the spurt in the power sector. Similarly, CRNO's rate of growth relies on the expansion of the oil and gas sector. Domestic CRNO market is currently pegged at less than USD one billion.