SAIL, RINL may detach from 4 mt steel venture with NMDC

摘要

AT A time when consolidation is the name of the game, a steel joint venture is on the verge of coming unstuck. The steel ministry is considering withdrawal of Steel Authority of India (SAIL) and Rashtriya Ispat Nigam (RINL) from the venture with National Mineral Development Corp (NMDC) for setting up a four-million-tonne steel plant in Chhattisgarh. Both SAIL and RINL - public sector units under the steel ministry-have taken up ambitious expansion plans with tight schedules. It is felt the companies should focus on their expansion and leave the steel project for NMDC.