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]Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
