SAIL-Arcelor JV eyes Gujarat and Maharashtra
The one billion dollar joint venture of state-owned Steel Authority of India and Arcelor Mittal is likely to be a private company with both partrners holding equity and stakes.
The unit would come up in Gujarat or Maharashtra. Since the unit manufacture automotive steel, the Pune-Chakan belt in Maharashtra and Sanand in Gujarat are among the sites.
The venture will sign a long term purchase agreement with SAIL’s Rourkela plant for sourcing hot rolled steel strips.