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Consensus on SAIL ArcelorMittal auto steel JV likely in two months - Niti Aayog-The 19th Guangzhou Die-casting, Foundry & Industry Furnace Exhibition
8/8/2017 Die-casting expo-foundry expo |
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PTI reported that a consensus on signing of the joint venture deal between Steel Authority of India and ArcelorMittal for an auto-grade steel plant is likely in two months at the instance of think tank Niti Aayog. An official said “A consensus on signing of the joint venture may be reached in two months.”
He told “Almost a month ago, a meeting was called by Niti Aayog wherein both companies were asked to firm up their JV agreement. Both the companies had issues, including pricing mechanism for raw material.”
SAIL had sought help from Niti Aayog to resolve differences with ArcelorMittal over setting up of INR 5,000 crore steel plant.
SAIL and ArcelorMittal had in May 2015 entered into a memorandum of understanding to explore the possibility of setting up an auto-grade steel manufacturing facility under a JV in India. The JV will also focus on producing specialised grade steel products for defence, space and automobiles. It will construct a cold rolling mill and other downstream finishing facilities in India, touted as one of the fastest-growing automotive markets in the world with production expected to double between 2014 and 2020, from 3.6 million units to 7.3 million units.
-The
19th Guangzhou Die-casting, Foundry & Industry Furnace Exhibition
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