Steel Authority of India (SAIL) and the state-owned Steel Complex will ink a joint venture pact on December 10,
Both companies will have equal equity participation in the joint venture. However, the management control will rest with SAIL.
SAIL is planning to invest Rs 500 million in the venture in the first phase for setting up a TMT rolling mill at Steel Complex with an annual installed capacity of 65,000 tons. When the joint venture is fully commissioned, it will have the fresh investments to the tune of Rs 2 billion.
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