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State-owned Steel Authority of India Ltd. (SAIL) and Indonesia's PT Krakatau Steel are exploring a joint venture to build a stainless steel project with an initial capacity of 0.5 million tonnes (MT), scalable up to 1 MT.
The two companies recently signed a memorandum of understanding (MoU) to evaluate the venture, which will focus on manufacturing stainless steel slabs to meet India's rising demand. According to a source with direct knowledge of the development, the final capacity and specific project details will be finalized after the joint venture is formally established.
News by Rahul Yelligetti.
