November 22, 2008

SAIL inks MoU with SCI

It is reported that Steel Authority of India Limited had signed a MoU with Shipping Corporation of India to promote a JVC to facilitate import of coking coal for SAIL on July 1st 2008.

SAIL and SCI will hold 25% each in the JVC and the remaining share capital will be held by other strategic partners, who are yet to be identified.

The JV firm will primarily provide various shipping related services to SAIL for importing coking coal and may also participate in world wide dry bulk shipping trade.