Breaking News

You are here » Indian-Commodity  :  Corporate  :  SAIL gets nod for proposal to sign non-binding term sheet with ArcelorMittal S.A.


SAIL gets nod for proposal to sign non-binding term sheet with ArcelorMittal S.A.

Steel Authority of India (SAIL) has received its board's approval for proposal for signing a legally non-binding term sheet with ArcelorMittal S.A. for entering into a joint venture (JV) for automotive steel business. Definitive agreements in this regard will be finalized in due course subject to financial viability. The company's board gave approval for the same at its meeting held on December 12, 2017.

SAIL is India's largest steel producing company. The company is among the five Maharatnas of the country's Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.

Related News

View all news

NBCC bags total business worth Rs 242 crore in February

NBCC (India) has secured total Business of around Rs 242 crore in the month of February, 2018.Recently, the company has received letter of award (LoA) of work from Rural Electrification Corporation (REC)......

KRBL to launch new products 'Chia Seed', 'Flax Seed'

KRBL will launch its new products in the name and style of 'Chia Seed' and 'Flax Seed'. The products will be launched on March 19, 2018 and it will cater to International market.'Chia Seed' is the ultimate......

Shilpa Medicare receives EIR from USFDA for Telangana facility

Shilpa Medicare has received Establishment Inspection Report (EIR) from the United States Food & Drug Administration (USFDA) for its formulations manufacturing facility (SEZ unit) located at Jadcherla,......

Top News

View all news

Sadbhav Infrastructure emerges lowest bidder for Vadodara Kim Expressway Project

Sadbhav Infrastructure has been declared L-1 (Lowest) bidder by the National Highways Authority of India (NHAI) for new Hybrid Annuity Project in the State of Gujarat.The Project is for the construction......

Tribhovandas Bhimji Zaveri opens 37th store in Pune

Tribhovandas Bhimji Zaveri has opened its 37th store at Unit No. UG-71, Phoenix Market City Mall, Viman Nagar, Pune, in state of Maharashtra on March 17, 2018.Tribhovandas Bhimji Zaveri, a well-known jewellery......

DHFL planning to raise funds through NCDs

Dewan Housing Finance Corporation (DHFL) is planning to raise funds through Non-Convertible Debentures (NCDs). The company has proposed to issue Secured Redeemable NCDs amounting to Rs 300 crore and a......