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SAIL Awaits ArcelorMittal Response on Auto Steel JV Plans – Mr AK Chaudhary
Release time：Nov 27, 2019 From：admin
Steel Authority of India Limited chairman Mr AK Chaudhary told reporters that SAIL is awaiting a response from ArcelorMittal regarding setting up a joint high end automotive steel plant in India. He said that "There is no communication.”
When asked about chances of the JV plans getting scrapped with ArcelorMittal all set to enter India after winning Essar Steel, he replied, the company had said they need time as they were busy with Essar Steel. But let's see what they have to say now.
In December 2017, Steel Authority of India Ltd board had approved a proposal to enter into a JV with global steel giant ArcelorMittal for manufacturing high-end automotive steel. The definitive agreement in this regard, the company had said, will be finalised in due course subject to financial viability.
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