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    SAIL to sign steel plant pact with POSCO in Nov

    State-run Steel Authority of India Ltd is likely to sign a joint venture agreement with South Korean steel major POSCO for setting up a factory in Bokaro, Steel Minister Beni Prasad Verma said on Wednesday.

    October 12, 2011 / 17:49 IST
       
       
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      State-run Steel Authority of India Ltd is likely to sign a joint venture agreement with South Korean steel major POSCO for setting up a factory in Bokaro, Steel Minister Beni Prasad Verma said on Wednesday.


      "We are hopeful of signing the agreement in November. I will be going to Korea next month," Verma told reporters.


      SAIL and POSCO are looking to set up a 3-million tonnes steel plant in Bokaro with an investment of Rs 160 billion (USD 3.2 billion).

      [$1 = 49.34 Rupees]

      first published: Oct 12, 2011 05:45 pm

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