The public sector Steel Authority of India Limited the country's largest steel producer, will sign a memorandum of agreement with Kobe Steel of Japan on July 10 in Japan for setting up a 0.5 million tonnes per annum (iron nugget plant in Durgapur, West Bengal using Kobe's patented ITmK3 technology.

The MoA will be signed in the presence of Indian union steel minister Mr Beni Prasad Verma, steel secretary Mr DRS Chaudhary, joint secretary steel Mr UP Singh, SAIL chairman Mr CS Verma and other senior officials of SAIL and Kobe Steel.

A joint venture company, SAIL-Kobe Iron India Pvt. Ltd in which SAIL and Kobe Steel hold equal equity, has already been incorporated.

Source - NetIndian

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