68th Day Of Lockdown

Maharashtra65168280812197 Tamil Nadu2024611313157 Delhi173877846398 Gujarat1635692321007 Rajasthan83654855184 Madhya Pradesh78914444343 Uttar Pradesh77014651213 West Bengal48131775302 Andhra Pradesh3461228960 Bihar3359120915 Karnataka292299749 Telangana2499141277 Jammu and Kashmir234190828 Punjab2197194942 Odisha17239779 Haryana172194019 Kerala120957510 Assam9361044 Uttarakhand493794 Jharkhand4621914 Chhatisgarh4471021 Chandigarh2891994 Tripura2711720 Himachal Pradesh223634 Goa70420 Manipur6060 Puducherry57230 Nagaland3600 Meghalaya27121 Arunachal Pradesh310 Mizoram110 Sikkim100
Business Companies 17 Mar 2017 SAIL, ArcelorMittal ...

SAIL, ArcelorMittal to resolve differences before May

Published Mar 17, 2017, 6:04 pm IST
Updated Mar 17, 2017, 6:05 pm IST
Much-awaited JV will focus on producing specialised grade steel products for defence, space and automobiles.
Chief executive Lakshmi Mittal of ArcelorMittal.
 Chief executive Lakshmi Mittal of ArcelorMittal.

New Delhi: The government today said it is hopeful that SAIL and ArcelorMittal will resolve differences over setting up of about Rs 5,000-crore autograde steel plant before May.

"May-end is the deadline and before that we think some solution should come up... Some problem is solved. Good news should come," Steel Minister Chaudhary Birender Singh told reporters here.


The much-awaited joint venture (JV) between steel giant ArcelorMittal and state-run SAIL will also focus on producing specialised grade steel products for defence, space and automobiles.

The JV between steel giant ArcelorMittal and state-run SAIL will be operational by December, 2016, Singh had earlier said. "An MoU was signed earlier, but there were some issues related to production etc, which will be sorted in a month or so. It should be operational by the year-end (December, 2016)," he had said.

In May last year, an inter ministerial group (IMG) had reviewed the progress of MoU that aims to set up an estimated Rs 5,000-crore joint venture (JV) plant to produce autograde steel in the country.

The proposed JV 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.

In an investor presentation in June 2015, ArcelorMittal had said the proposed steel plant will come up at a major auto cluster in India. India has four major auto clusters - Pune-Chakan belt in Maharashtra, in the outskirts of Chennai in Tamil Nadu, Sanad in Gujarat and the Gurgaon-Neemrana belt spread across Haryana
and Rajasthan.

Location: India, Delhi, New Delhi