Steel Authority of India's (SAIL) JV - mjunction has been appointed by the Directorate General of Hydrocarbons (DGH) to build a platform for e-bidding, e-evaluation of bids and e-allocation of oil and gas fields. This move is expected to facilitate transparent allocation of natural resources and help reduce India's oil import bill by up to $8 billion annually.
mjunction is a 50:50 joint venture (JV) between Steel Authority of India (SAIL) and Tata Steel, is one of India's largest B2B e-commerce company.
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.