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SAIL signs Shareholder Agreement with Jaiprakash Associates Ltd for JV
Posted On : 2007-03-21 04:38:08( TIMEZONE : IST )
Steel Authority of India Ltd (SAIL) has announced that the Company has signed a Shareholder Agreement with M/s. Jaiprakash Associates Ltd (JAL) for formation of a Joint Venture Company (JVC). The Company would hold minority stake of 26% in the JVC and the remaining 74% stake would be with JAL.
The JVC will set up a cement plant for producing 2.2 million tonnes of Cement, at Bhilai (Chhatisgarh) and at Satna (Madhya Pradesh), by using slag generated at Bhilai Steel Plant and lime stone from the Company's mines at Satna.
