SAIL, Kobe Steel to form JV [Feb 2012]

By admin February 10, 2012 6:52 am IST

Steel Authority of India Limited (SAIL) and Kobe Steel of Japan to establish a joint venture company to carry out a detailed feasibility study for a commercial ITmk3® ironmaking plant in India. Provisionally called SAIL-KOBE Iron India Private Limited, the proposed 50-50 joint venture will be headquartered in New Delhi.
With a capacity to produce 500,000 metric tonnes of iron nuggets per year, the plant would be constructed at SAIL’s Alloy Steels Plant in Durgapur in West Bengal. The project would use iron ore from SAIL’s mines. Non-coking coal, sourced within India, will be used as the reductant in the ITmk3 Process.