Steel Industry Monitor

SAIL to invest $12 bn in four overseas plants

Steel Authority of India (SAIL) on Monday said it was planning four three-mtpa manufacturing facilities, one each in Indonesia, Mongolia, South Africa and Oman, at a cumulative investment of $12 billion.

“We have already signed the memorandum of understanding with the Indonesian government and are in constant dialogue with the governments in Mongolia, South Africa and Oman for setting up the three-mtpa steel plant,” SAIL Chairman C S Verma told reporters on the sidelines of an ICC-organised conference.

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